21 February 2017
Visit dh.com

US exchange rows back on commitment to help regulate bitcoin trading platform

24 April 2014  |  4801 views  |  0 bitcoins

The National Stock Exchange (NSX) has moved to play down its relationship with Atlas ATS, insisting that it has not agreed to regulate the bitcoin trading platform.

Yesterday, New York-based Atlas said that it has signed a Memorandum of Understanding with CBOE-owned NSX, that will see the exchange "develop and enforce rules to regulate" the bitcoin platform.

Atlas hopes that because the NSX is recognised as a self-regulatory organisation by the SEC, the deal could act as a shortcut for its own regulatory requirements, negating the need to obtain money transmitting licences from 50 different US states.

David Harris, CEO, NSX, said: "We are very excited about working with Atlas ATS and all other market participants in the digital currency space to create a framework for safe, transparent and auditable rules applied to a unique market place."

However, the SEC has not commented on how it would view the move and the NSX has now sought to row back on its commitment to the plan.

In a "clarification statement", the exchange insists that the MoU is non-binding and that it merely may discuss exploring the terms under which it would consider what systems, technology and expertise it could offer to help in Atlas's regulations.

"NSX has not agreed to regulate the Atlas bitcoin market nor to commit any of its regulatory or other resources, as a self-regulatory organisation or otherwise, to do so."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Brits wary of crypto-currency; Nakomoto outed?; bitcoin goes to pot

Brits wary of crypto-currency; Nakomoto outed?; bitcoin goes to pot

17 April 2014  |  5730 views  |  0 comments | 8 tweets | 2 linkedin
Mt. Gox CEO unwilling to travel to US to answer bankruptcy case questions

Mt. Gox CEO unwilling to travel to US to answer bankruptcy case questions

15 April 2014  |  3252 views  |  1 comments | 1 tweets | 1 linkedin
New York regulator starts accepting bitcoin exchange applications

New York regulator starts accepting bitcoin exchange applications

12 March 2014  |  8603 views  |  0 comments | 6 tweets | 4 linkedin
US state regulators investigate virtual currencies; Mt. Gox chief quits Bitcoin Foundation

US state regulators investigate virtual currencies; Mt. Gox chief quits Bitcoin Foundation

24 February 2014  |  6395 views  |  1 comments | 7 tweets | 6 linkedin

Related blogs

Create a blog about this story (membership required)
visit BNP paribas

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
17272 views 11 comments | 53 tweets | 87 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
10355 views comments | 21 tweets | 19 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
10322 views comments | 49 tweets | 58 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
9260 views comments | 17 tweets | 12 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
8367 views comments | 17 tweets | 14 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job