LedgerX CEO Threatens to Sue CFTC for Delaying Bitcoin Futures Launch

Libra Coin News
Thu, 08/01/2019 - 19:32
Alex Dovbnya
LedgerX once again appears in the spotlight, but for all the wrong reasons. Is the CFTC to blame?     
Cover image via twitter.com

Paul Chou, the CEO of LedgerX, claims that he will sue the Commodity Futures Trading Commission for anti-competitive practices after the US regulator confirmed that they are yet to approve the company’s physically delivered Bitcoin futures.

On July 31, Coindesk reported that LedgerX’s Bitcoin futures offering already went live after getting the green light from the CFTC. Thus, the exchange managed to outpace Bakkt, its direct competitor with a much louder name.

However, the upstart backtracked a day later once the CFTC denied the ‘explicit’ approval of its DCO application without explaining the reason for the delay.    

As of now, LedgerX is limited to clearing swaps, which according to Chou, is very similar to futures.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.