Daily Management Review

LedgerX Awaits ‘Regulatory Approval’ To Operate The First Bitcoin Trading Exchange Of The U.S.


05/23/2017


On a fund raising venture led by Miami International Holdings Inc. and “Huiyin Blockchain Venture Investments”, LedgerX raises “$11.4 million”.



LedgerX is an exchange with bitcoin options, owned by Ledger Holdings based out of New York, whereby the latter made an announcement revealing that the company collected “$11.4 million” worth of fund in projects headed by “Miami International Holdings Inc and China's Huiyin Blockchain Venture Investments”.
 
As a result, the funds act as a support for the plans of LedgerX to “operate a regulated exchange” and making place for digital currencies like bitcoin. However, LedgerX still awaits “regulatory approval” of the “Commodity Futures Trading Commission” for operating the first bitcoin exchange regulated by the U.S. Furthermore, Reuters inform that
“On approval, participating institutions can use the LedgerX platform to obtain and hedge bitcoin using exchange-traded and centrally cleared options contracts”.
 
While, the C.E.O. of “LedgerX LLC”, Paul Chou, stated:
“In the short term, these investments will further our application to become a regulated exchange and clearing house for bitcoin options”.
“In the long term, these strategic investors will help us enter additional marketplaces and territories”.
 
The “Miami International Securities Exchange LLC and MIAX PEARL LLC” are two trading exchanges that are “fully electronic options”. There are over “2,600 multi-listed classes” on “trades options” of MIAX, while Huiyin Group led investment conglomerate’s subsidiary goes by the name of “Huiyin Blockchain Venture”. Earlier, LedgerX has taken up similar fund raising ventures with “Google Ventures and Lightspeed Venture Partners” and successfully raised “$1.5 million”.
 
Moreover, Reuters also added:
“Bitcoin is a virtual currency that can be moved like money around the world quickly and anonymously without the need for a central authority. It hit a record high over the weekend, with one unit of bitcoin trading above $2,000 on the BitStamp platform BTC=BTSP”.
 
 
 
References:
http://www.reuters.com







Science & Technology

Large U.S. Study Finds Detection Of Irregular Heart Beat By Apple Watch

Apple to present Netflix competitor at the end of March

Live Human Under-Skin Chip Implantation Takes Place At Barcelona

IDC: Wearable tech gadgets market is booming

Second Patient In 12 Years Becomes HIV Free By Bone Marrow Transplantation

Car-Sharing Platforms Could hold The Key To 5G & Auto Industry Collaboration

Bezos tells about his space plans

Fast Company: Apple isn't the most innovative anymore

U.S. Space Program Could Be Delayed Due To SpaceX, Boeing Design Risks: Reuters

What trends will be affecting the health sector in the coming years?

World Politics

World & Politics

China's expansion into Europe: Italy’s ports are next

US watchdog is accused of violating aircraft certification process

Large Section Of Citizens Unhappy With Public Services & Benefits: OECD Survey

Largest companies reveal volumes of plastic produced by them

US Warning To Germany About Intelligence Sharing Over Huawei Ban

Mercer reveals the world’s safest cities

No vaccinations, no school: Italy’s new law

Why the new Aachen Treaty cannot save France-Germany relation