Nasdaq-Issued Bitcoin Futures Contracts May Comprise “Investment” Rather Than “Tracking Stock”
Mrs. Friedman Confirmed That Nasdaq Is Exploring Offering Bitcoin Futures Contracts
The CEO of Nasdaq has discussed the company’s current position regarding bitcoin futures with media, making comments confirming that Nasdaq is considering the development of bitcoin futures. Despite indicating that the company is currently exploring the possibility of offering bitcoin futures, no mention of a possible timeline for the hypothetical contracts is given, nor a guarantee that the company will definitely issue futures contracts for bitcoin.
Mrs. Friedman told media, “We are continuing to investigate the idea of a cryptocurrency futures (contract) with a partner and we continue to look at the risk management around that, making sure we are putting the right protocols in place, making sure there’s proper demand, and that the contract is different from what’s already out there.”
Nasdaq Expected to Develop Bitcoin Futures Contracts Unique From Those Issued by Rivals
In the interview, Mrs. Friedman also expressed Nasdaq’s desire to develop a product that significantly differed from the futures contracts offered by rivals CBOE and CME. The Nasdaq CEO stated, “What we might look at is more of a total return futures, so it’s a little bit of a different construct,” describing such as likely comprising “more of an investment than a tracking stock.” Mrs. Friedman added, “We will have to see whether it makes sense at the end of the day, proper client demand, and on a risk-management side ‘do we feel confident?,’ in which case we would look to go to the CFTC (Commodity Futures Trading Commission).”
Despite the hype surrounding the launch of bitcoin futures contracts issued by mainstream financial institutions, the event so far appears to have signaled that BTC’s dramatic multi-year bull-run was coming to an end. After initially trading at $20,650 USD in December 2017, CME’s January contracts recently settled for $10,900 – comprising a loss of more than 47% from the opening price, and reaping great returns for those who chose to short the contracts close to launch.
Written by Bitcoin.com
Audit Giant DNV GL Partners With Blockchain Startup to Track Assets
Risk management giant DNV GL is partnering with blockchain startup VeChain to launch a more efficient and transparent record of asset ownership.
The two companies announced they would be teaming up on Wednesday to develop a blockchain platform to track food and beverages, as well as fashion and retail. The ultimate hope to apply the solution to the aerospace industry, according to a press release.
DNV GL is known for advising companies on ways to boost efficiency. In this case, the company announced it would develop an immutable record for its clients to track their assets.
The firm’s chief executive, Luca Crisciotti, said partnering with VeChain will help his company’s digital programs become more adaptable for client needs, particularly with data collection. VeChain launched its own token, VEN, in 2016.
“Our Digital Assurance Concept will provide both and consumers with an unprecedented degree of insight into product and supplier information, to an extent and with an accuracy which have not been possible before,” Crisciotti said in a statement.
Written by CoinDesk
Bitcoin Exchange Hit By Armed Robbers in Thwarted Theft
Ottawa police are seeking two suspects after an attempted armed robbery at a cryptocurrency exchange.
Three people entered the offices of Canadian Bitcoins in Ottowa carrying handguns and restrained four employees on Tuesday morning, according to CBC News. At that point, they attempted to compel one of the employees to make an outbound transaction from the exchange. A fifth employee called police before any assets could be taken, police told the news service.
One suspect has been arrested and charged, according to police. The charges include robbery with a firearm and forcible confinement.
The names of the suspects were not released.
CBC News reported in a Facebook post that the suspects were looking for physical cash, but other armed robberies have successfully made off with cryptocurrency wallets.
The New York District Attorney’s Office filed armed robbery and kidnapping charges against New Jersey native Louis Meza after he allegedly stole more than $1.8 million of ether last November. In the filing, the DA’s office claimed Meza held his victim at gunpoint, forcing him to turn over a cell phone and private keys, which he used to access the victim’s digital wallet.
Ottawa police image via jiawangkun / Shutterstock
Written by CoinDesk
Bermuda Could Launch a Blockchain Land Registry
Bermuda plans to migrate its property deeds system to the blockchain, its premier said today.
As quoted by The Royal Gazette, premier David Burt remarked during an appearance at the World Economic Forum in Davos that the country was aiming to shift away from its “old school” system of recording deed information.
The Royal Gazette quoted Burt as saying:
“Bermuda has an old school deeds-based property system. What we are going to do is transfer our registry to the blockchain. Clearly it needs to be transparent so people know what’s there and be secure, and that way we know who owns what at any point in time”
Burt reportedly remarked that some segments of Bermuda’s business ecosystem – namely the legal profession – may not be fully supportive of the move. That said, according to the premier, “the thing is to make more efficiencies inside of our economy.”
The development reflects Bermuda’s continued engagement with the blockchain and cryptocurrencies.
In November, the British overseas territory set up a task force seeking to both create an appropriate regulatory environment and to support commerce utilizing these technologies in the hopes of attracting new industry and jobs. The government is also working with organizations such as Ambika Group and the Bermuda Business Development Agency on possible uses of the tech.