LedgerX clashes with CFTC over planned launch of bitcoin futures platform

Following yesterdays announcement that LedgerX had launched a retail platform allowing for the first physically settled bitcoin ($BTC) futures in the U.S. it remains unclear if contracts are live for trading or will be live any time soon. Earlier today The Block reported that there was no sign of approved contracts on the CFTC website and no listed market volumes.

The CFTC later stated that LedgerX does not have a designated contract maker (DCM) license required to trade futures, only one from 2017 that allows for the trading of swaps. This statement clashes with the fact that the CFTC had reportedly approved LedgerX's DCM license last month. Following these events Paul Chou, CEO of LedgerX, took to Twitter to announce that he would take action against the CFTC stating:

I've decided to sue the CFTC for anti competitive behavior, breach of duty, going against the regs, etc.

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