Nasdaq still on track to launch Bitcoin contracts on Q1 2019

Nasdaq still on track to launch Bitcoin contracts on Q1 2019

Nasdaq is keeping its plans to introduce Bitcoin future contracts during the first quarter of the next year according to a report published by Bloomberg citing two people familiar with the matter.

Nasdaq initially reported its interest to offer Bitcoin future products in November 2017, when the Bitcoin epic rally was undergoing. However, the Commodity Futures Trading Commission and the SEC have strengthened regulation, and the exchange is now focused on satisfying the concerns of regulators.

Previously, the CME Group and Cboe Global Market started offering Bitcoin futures last December as they used an expedited self-certification process. However, after the listing, the CFTC announced an enhanced review process for virtual currency derivatives.

Bitstamp to integrate new platform focused on market monitoring

On the other side of the ocean, European cryptocurrency exchange Bitstamp announced in a press release they will integrate a new platform to improve customer protection and regulatory compliance.

According to the press release, “Irisium’s state of the art holistic monitoring technology will complement Bitstamp’s commitment to providing a safe and reliable marketplace.” The new platform will integrate KYC/AML procedures, advanced security software and protocols.

Bitstamp CEO and co-founder Nejc Kodrič affirmed that the company is focused on providing a fair and orderly market which reflects accurate supply and demand.

“In order for the industry to mature, effective market monitoring is crucial. We are cooperating closely with Irisium and will leverage their significant experience to provide a more robust and transparent trading venue for our customers.”

The target of the platform is to attract more institutional investors with confidence in the cryptocurrency market, and at the same time, to increase market activity monitoring.

A self-regulatory agency to save the Blockchain industry

Previously, Bitstamp joined forces with crypto exchanges Gemini, Bittrex and bitFlyer to create a self-regulatory organisation called Virtual Commodity Association Working Group to make help big investors to get more comfortable with the crypto market.

In the press release published on August 20, John Roth, Chief Compliance and Ethics Officer at Bittrex, said that “the blockchain industry must focus on protecting its customers and operating in a responsible manner to significantly increase adoption globally.”

The association believes “in the value of self-regulation, which we pursued in Europe almost from our inception, and look forward to following a similar path in the U.S. Those that can’t or won’t comply with regulations put consumers – and their own operations – at risk.”

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