Bakkt’s Bitcoin Futures Stalls, Will Rival Firms Fuel Crypto Momentum?

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Supporters of Bakkt continue to grow weary of further delays to the Bitcoin futures ruling. The Commodity Futures Trading Commission (CFTC) confirmed last month the matter is under review, but their lack of urgency casts doubt over the probability of Bakkt’s launch in Q1 of 2019. However, developments at a rival futures exchange give hope that a positive ruling is imminent.What is Bakkt?The philosophy behind Bakkt is to legitimize Bitcoin as a financial instrument. In short, by offering cryptocurrency to the world’s big financial institutions, the market will move away from a niche following into the mainstream. Kelly Loeffler, Bakkt CEO, said:“Bakkt is designed to serve as a scalable on-ramp for institutional, merchant, and consumer participation in digital assets by promoting greater efficiency, security, and utility,”But the biggest obstacle to achieving this vision lies in developing robust processes free from manipulation. At the moment, the ambitious nature of the project,…

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