The Commodity Futures Trading Commission has granted cryptocurrency derivatives firm Bitnomial approval to register as a derivatives clearing house in the United States, allowing it to settle margined futures and options contracts.
CFTC commissioners voted 2-1 in favor of an application by Bitnomial, a four-year-old company that wants to offer margin-backed Bitcoin futures and options related to Bitcoin futures to U.S. investors. Ta. Commissioner Kristin Johnson and Commissioner Rostin Behnum voted to approve the proposal, with Christie Goldsmith Romero the only vote against it. Carolyn Pham and Summer Marsinger agreed, supporting the majority decision.
Bitnomial had already received approval to operate as a designated contract market where futures and options contracts can be listed, and as a futures commission merchant that can trade with customers.
Commissioners discussed issues such as conflicts of interest during a committee public forum on Wednesday and ultimately voted in favor of the company’s application.
in statementBitnomial CEO Luke Hoersten said the company wants to offer “a wide range of physical and digital products.”
“Unlike other companies seeking to disintermediate the brokerage industry, our FCM provides digital asset-related services and support to brokerage partners, institutions and dealers at scale,” he said. “With the licensing process complete, we can now shift our focus to expanding Bitnomial’s product offering and customer base.”
Correction (December 13, 2023, 21:41 UTC): I would like to correct that a yes vote supports the majority vote and is not an abstention.