Tassat Gets CFTC Approval to Issue Bitcoin Derivatives in US
Marie Huillet's original article for cointelegraph.com reduced by 58%
New York-based financial technology firm Tassat - formerly known as trueDigital - has succeeded in overcoming the first hurdle in its bid to launch a fully-regulated crypto derivatives exchange. Tassat had first reached the agreement in principle to acquire - subject to CFTC approval - trueEx's SEF registration back in July of this year. In its press release, the CFTC stated that trueEX and Tassat fulfilled the requirement for transferring a SEF registration by providing evidence that Tassat would be able to operate in compliance with the provisions of the U.S.
Commodity Exchange Act and related CFTC regulations. The agency revealed that there are now a total of 19 registered SEFs, including Tassat, and noted that TrueEX had been granted its registration as a SEF by the CFTC on Jan. 22, 2016.
The registration brings Tassat closer to launching a crypto derivatives exchange with full oversight from the CFTC, where it hopes to list physically-delivered Bitcoin derivatives for institutional investors. In March, Tassat - when it was still known as trueDigital - had partnered with crypto data firm Kaiko and digital assets analytics company Inca Digital Securities to widen the distribution of its over-the-counter reference rates for Bitcoin and Ethereum, the latter of which it created in partnership with ConsenSys. This summer, another crypto exchange ErisX, procured a derivatives clearing organization license from the CFTC as part of its plans to make digital asset futures contracts available for trade on its regulated derivatives market later this year.
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