The Evolution of the Bitcoin Clearing House
We may be witnessing the final months of the large international bitcoin exchanges for retail purposes. On the road to maturity, the survivors are most likely to emerge as supra-regional bitcoin clearing houses. Today's global bitcoin exchange plays the mega-role of both retail and wholesale exchange, providing the platform for individual traders, corporate traders, and smaller bitcoin exchanges. Due to a dearth of functioning exchanges in many active bitcoin countries, traders are forced to look outside of their home jurisdiction for liquidity and they tend to go international. In....
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Blockchain is under consideration to replace Australian Security Exchange's Clearing House Electronic Sub-register clearing and settlement System. The Australian Securities Exchange's (ASX), managing director, has confirmed that blockchain is a serious candidate to replace the existing clearing and settlement system. The Sydney Morning Herald reports that ASX managing director Elmer Funke Kupper sees the costs, timescales and complexities of the current Clearing House Electronic Subregister System (CHESS) - cut down by blockchain technology. In noting the technology as a "once in a 20-year....
The payments operator responded to a Treasury inquiry related to the presidential executive order with an appeal to keep bank interests in sight when designing digital assets. United States payment systems operator The Clearing House has released its response to a Treasury Department request for comment on “digital-asset-related illicit finance and national security risks as well as the publicly released action plan to mitigate the risks.” The Clearing House found significant security serious risks associated with digital assets, but was concerned that banks should have the same....
It is no secret that Nasdaq is keeping a close eye on the evolution of blockchain technology. The value of this innovative technology extends far beyond the financial realm, although most of the innovations over the next few years will take place in this sector. But Nasdaq isn’t an entity to come up with a half-devised plan, and they are preparing to....
Digital currency startup Ripple Labs has appointed Donald Donahue, former CEO of the Depository Trust & Clearing Corporation (DTCC) as an advisor to the company. DTCC is the main clearing house for US securities and derivatives, processing more than $1.6 quadrillion in transactions per year. In his role as COO and then CEO, Donahue is thought to have led the DTCC's efforts in stabilising the financial system following the 2007-08 market crash. Donahue said in a company statement:
A recent license amendment from the CFTC greenlit ErisX's expansion into trading product offerings on other commodities. The Commodity Futures Trading Commission, or CFTC, recently approved a license modification for ErisX's clearing house. The license amendment allows ErisX freedom to offer more trading products. "The significance of the Amended Order is that it expands our licensed activities allowing us to clear products on other commodities beyond just virtual currencies or crypto," ErisX general counsel Laurian Cristea told Cointelegraph. "Now we may list futures or swaps across the....