US CFTC Advisor Chou Calls Blockchain Without Bitcoin Efforts Misguided
Paul Chou, CEO of LedgerX and the bitcoin advisor to the U.S. Commodities and Future Trading Commission (CFTC), says companies trying to use the blockchain without bitcoin are seriously misguided, and so far the concept is unproven, according to New York Business Journal. Chou says bitcoin and blockchain are inextricably linked and must remain as such for blockchain technology to become widely adopted. Chou’s LegderX is working to establish a regulated bitcoin derivatives market. Chou and other bitcoin advocates say without an incentive to compensate a wide network, blockchain will lose....
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The U.S. Commodity Futures Trading Commission (CFTC) will meet on Jan. 26 to review the dual capabilities of bitcoin and the blockchain for the derivatives market. The commission appointed Paul L. Chou, CEO and founder of Ledger X, as a bitcoin trading expert to its technical advisory committee. The meeting will be from 9:45 a.m. to 3:45 p.m. at the CFTC’s Washington, D.C. headquarters. Attendees will discussion the proposed regulation of automated trading, swap standardization and harmonization, and the potential application of distributed ledger technology to the derivatives market.
Recently, institutional trading and clearing platform, LedgerX, co-founder and CEO Paul Chou, stated that most of the proposals and projects led by blockchain startups to implement distributed ledger technology in the traditional financial sector are extremely misguided. The former code-writer for Goldman Sachs said in an interview with the New York Business Journal: Blockchain Expanding. Since early 2015, the Bitcoin space has seen an explosive growth of blockchain startups or distributed ledger technology providers which facilitate enterprise-level infrastructure for financial....
Federally regulated bitcoin exchanges seem to be becoming a trend. Paul Chou, a consultant and former Goldman Sachs trader is readying LedgerX Bitcoin derivatives exchange and clearing house. LedgerX seems like a service that could help Bitcoin derivatives come a step closer to additional legitimacy by being fully regulated. While working for Goldman Sachs, Chou was responsible for the development of algorithmic strategies for equity trading for U. S. and Japanese markets. He also developed a set of cross-asset strategies and devised a method to unify and optimize the trade flow across....
Every financial regulatory body around the world seems to be trying to wrap their heads around Bitcoin and its underlying blockchain technology these days, and the Commodity Futures Trading Commission (CFTC ) in the United States is not immune to this trend. Simply defining bitcoin as an asset has proved to be a difficult task for many regulatory agencies around the world, as some claim it is a commodity while others view it as a currency . The CFTC ruled that bitcoin is a commodity in late 2015. To gain a better understanding of Bitcoin, the blockchain and other distributed ledger....
CFTC has appointed a bitcoin trading expert to their Technology Advisory Committee and has set a meeting on January 26th to review blockchain and bitcoin’s potential application to the derivatives market. Commodities Futures Trading Commission has appointed Paul L. Chou, a bitcoin trading expert to their Technology Advisory Committee. CFTC has also announced that on Tuesday, January 26, 2016 from 9.45 am to 3.45 p.m, the Technology Advisory Committee (TAC) will hold a public meeting at their Washington, DC Headquarters. The agenda of this meeting inclines on the following: The commission’s....