The Commodity Futures Trading Commission (CFTC) has granted bitcoin derivatives exchange LedgerX to offer physically settled bitcoin futures contracts.
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LedgerX is a Delaware limited liability company located in New York City, and a wholly-owned subsidiary of Ledger Holdings, Inc.
LedgerX has been registered with the CFTC as a swap execution facility and derivatives clearing organization (DCO) since July 2017.
Effective June 24, 2019, LedgerX is also registered as a designated contract market (DCM) under Section 5 of the Commodity Exchange Act (CEA) and Part 38 of the CFTC’s regulations.
With registration as a DCM, LedgerX will be required to demonstrate continued compliance with all applicable provisions of the CEA and CFTC regulations, including Part 38.
LedgerX has requested that the CFTC amend its order of registration as a DCO, which limits LedgerX to clearing swaps, to allow it to clear futures listed on its DCM.