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.