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Ripple (XRP) has hit a new major milestone, with the first-ever regulated XRP futures in the US going live this week. Bitnomial, a U.S.-based digital asset derivatives exchange, has launched the first-ever U.S. Commodity Futures Trading Commission (CFTC) regulated futures contract for XRP, the firm announced on Thursday. “This marks the first-ever CFTC-regulated XRP futures product in the United States, providing traders with a compliant, transparent, and capital-efficient way to gain exposure to XRP,” Bitnomial said in a statement this week. The move is the latest in a string of huge milestones for Ripple Labs and their XRP cryptocurrency. This week the software company saw its lawsuit from the SEC finally come to a close. The lawsuit was originally filed four years ago, under the previous Gary Gensler-led SEC. Ripple CEO Brad Garlinghouse called the lawsuit “doomed from the start” in a statement following the dropped appeal. Garlinghouse also called the move “a resounding...

The U.S. Commodity Futures Trading Commission (CFTC) will focus on the decentralized finance (DeFi) market . On Jan. 8, a CFTC’s Committee of Advisors called on the regulatory body and the government to focus on DeFi to understand the workings of the decentralized finance market . “From the time that I arrived at the CFTC, I have played a steady drumbeat that we need to study emerging issues related to digital assets, or we could risk harmful unintended consequences.” Christy Goldsmith Romero, CFTC Commissioner To this end, the initiative’s authors have called on commissioners to generate a report that will help inform authorities on the state of DeFi. The report states that the benefits and risks of defi largely depend on the design and features of specific systems. The main problem associated with DeFi systems is the lack of clear lines of responsibility and accountability, which should be avoided in some industry projects. The publication will be a g...

Crypto derivatives firm Bitnomial has received approval from the Commodity Futures Trading Commission to register as a derivatives clearing organization in the U.S., enabling it to settle margined futures and options contracts. The approval, secured by a four-to-one vote at the December open meeting of the CFTC, establishes Bitnomial as the first crypto-native exchange in the U.S. to acquire a full range of licenses for derivatives exchange, clearing house, and brokerage. In a Dec. 13 press release, the company highlighted its position as the sole exchange in the U.S. offering margined, physically delivered digital asset derivatives. This offering enables customers to obtain actual ownership of digital assets on a leveraged basis, a shift from the typical cash settlement approach. You might also like: Crypto.com launches new derivatives product The acquisition of the derivatives clearing organization (DCO) license completes Bitnomial’s regulatory framework, compl...

The regulatory body asserts that the defendants managed to entice over 14,000 individuals by creating false weekly returns. Legal proceedings have been initiated by the Commodity Futures Trading Commission (CFTC) against individuals and their organization, Fundsz, citing their involvement in a deceptive scheme concerning crypto currencies and precious metals trading. Rene Larralde from Melbourne, Florida, Juan Pablo Valcarce from West Melbourne, Florida, Brian Early from New Orleans, Louisiana and Alisha Ann Kingrey from Franklin, Arkansas, along with their unincorporated entity Fundsz, face allegations of misleading investment solicitations. They allegedly enticed investors with implausible returns based on a purported "proprietary algorithm." The CFTC lodged a complaint in the U.S. District Court for the Middle District of Florida, alleging that the defendants attracted customers by promising steady 3% weekly profits through cryptocurrency and precious metal trading. Toda...

A U.S. regulator called Bitcoin, Ether, and Litecoin commodities in its court filing against Binance. It did not mention XRP anywhere. XRP (XRP) outperformed its top-ranking crypto rivals over the past 24 hours while reaching the highest price in 10 months.  XRP price tags 10-month high On March 29, XRP's price surged by nearly 15% to $0.58, its highest level in ten months, outperforming Bitcoin (BTC) and Ether (ETH) in the past 24 hours that rose around 4.5% and 2.75%, respectively. XRP/USD daily price chart. Source: TradingView The Commodity Futures Trading Commission (CFTC) referred to Bitcoin, Ether, and Litecoin (LTC) as "commodities" in its court filing against Binance. While the U.S. regulatory didn't name XRP, many assumed the token would be categorized as a commodity. Related: Here’s why CFTC suing Binance is a bigger deal than an SEC enforcement The lawsuit will likely conclude by the end of March, with legal experts believing Ripple has a chance to win. XR...