27 May 2018
visit www.ebaday.com

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

24 April 2014  |  5489 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  |  6368 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  |  3657 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  |  9840 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  |  7472 views  |  1 comments | 7 tweets | 6 linkedin

Related blogs

Create a blog about this story (membership required)
Visit response.ncr.comVisit http://go.jumio.com/finextraAdVisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
satelliteAnt Financial provides tech for China Ever...
28355 views comments | 3 tweets | 2 linkedin
Digital banking transformation creating new systemic risksDigital banking transformation creating ne...
8928 views comments | 18 tweets | 26 linkedin
MUFG to roll out blockchain payment network next yearMUFG to roll out blockchain payment networ...
7607 views comments | 13 tweets | 13 linkedin
There are some things you just can't do with an appThere are some things you just can't do wi...
6862 views comments | 9 tweets | 15 linkedin

Featured job

Find your next job