According to a report published by the CoinDesk, the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), will be delaying the launch of Bakkt for the secong time.
Bakkt is the bitcoin futures trading as well as custody platform of the company.
January’s 24th was set as the date for launching the Bakkt. But as the ICE is still waiting for the approvals from the Commodity Futures Trading Commission of the United States (CFTC).
Moreover the pace at which this agency has been moving, it is more or less unlikely that the company will be able to receive the approvals so that it could succeed the target of the launch date.
The CoinDesk also stated that this does not mean that CFTC will not approve the plan. The report stated that as per a person who is familiar with the matter, the launch is plausible to be happening on the 30th of January.
This means that the delay is a matter of just a few days or so.
The CoinDesk also reported that as per the sources who are familiar with the discussion which is regulatory, of the plan, the granting by the CFTC will be an exemption for the plan of Bakkt to custody the bitcoin which will be on behalf of it clients and that too in its own warehouse.
According to the regulations of the CFTC, it normally requires that the funds of the customers must be held with bank or the trust company or FCM which stands for Futures Commission Merchant.
According to the report of the CoinDesk on Friday, one of the sources stated it that the staff of the agency has almost finished with the reviewing of the exemption request of the Bakkt and has also passed it to the commission on Friday itself.
Source: CoinDesk, Krypto Money
