ivomm
Sr. Member
****
Offline Offline

Activity: 715
Merit: 317


All good things to those who wait


View Profile Personal Message (Offline)

Ignore
December 21, 2018, 12:16:45 AM

https://www.wsj.com/articles/first-futures-contract-to-pay-out-in-bitcoin-poised-for-green-light-11545301801

According to the Wall Street Journal:

WASHINGTON—The first futures contract that will pay out in cryptocurrency rather than cash is expected to soon get regulatory approval.

“It’s great to have cash-settle, but there’s a need for physical delivery,” said Kelly Loeffler, CEO of Intercontinental Exchange’s crypto business, Bakkt.

Approval for the futures contract is currently being considered by the Commodity Futures Trading Commission (CFTC).

CFTC laws require all US future contracts to be redeemable for dollars, securities or commodities, but it’s understood the commission will make an exemption to allow the Bitcoin futures contract to pay out in Bitcoin.