Tassat will be able to launch Bitcoin swaps after all, says CFTC

Tassat will be able to launch Bitcoin swaps after all, says CFTC


The United States Commodity Futures Trading Commission will still be allowing New York-based fintech firm Tassat to proceed with its Bitcoin swap contracts after failing to meet regulatory requirements.

According to a Sept. 15 statement from the CFTC’s Division of Market Oversight (DMO), the regulatory body will not stop Tassat from launching a swap execution facility (SEF) in Q4 2020, even after the firm failed to renew its registration following 12 consecutive months without trading.

“DMO will not recommend the CFTC commence an enforcement action against Tassat for failing to reinstate its SEF registration,” the DMO stated. The regulatory body’s decision extends to Tassat listing certified Bitcoin (BTC) swap contracts and participants who trade the contracts.

After applying to become a regulated crypto derivatives exchange with the CFTC in November, Tassat failed to launch its swaps exchange by Aug. 1, when the regulatory body labeled the firm as “dormant.” Tassat has reportedly claimed the oversight was due to delays

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!