News and Analytics

Bitnomial has obtained all necessary licenses from the CFTC
0

Bitnomial has obtained all necessary licenses from the CFTC

Dec 14, 2023

The United States Commodity Futures Trading Commission (CFTC) has granted a clearinghouse license to the cryptocurrency derivatives exchange Bitnomial, enabling it to carry out calculations for margin futures and options contracts. This information is included in the official press release of the platform.

At an open meeting of the CFTC, four members supported the registration of Bitnomial, while only one member expressed an opposing view. This move made Bitnomial the first crypto exchange in the U.S. with a clearinghouse license. Bitnomial's CEO, Luke Hoersten, expressed confidence that this license opens up not only the possibility of trading cryptocurrencies but also other digital or physical assets for the platform.

He also added that the company has been working for several years on creating a more diverse development strategy. With the licensing, Bitnomial will focus on introducing new products and attracting new users.

Luke Hoersten emphasized, "Unlike other companies seeking to move away from brokerage intermediation, we provide wholesale services and support in the field of digital assets to our brokerage partners, institutions, and dealers. Now that the licensing process is complete, we can focus on expanding our product range and growing our client base."

The exchange received regulatory approval in 2020 to operate as a Designated Contract Market (DCM) and since then has offered the opportunity to trade bitcoin futures with physical delivery of coins and derivatives.

Comments

Latest analytics

Maximizing Profits...

Maximizing Profits in 2024: A Detailed Evaluation of ValueZone.AI

Casinos without...

Casinos without Swedish License - Top List of Best Casinos...

Show more

Latest Dapp Articles

Show more

You may also like