FTX.US Acquires CFTC Regulated Crypto Exchange
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West Realm Shires Services (owner of FTX.US and FTX.com) is expanding its presence on the market by acquiring a Commodity Futures Trading Commission (CFTC) regulated crypto digital currency futures & options exchange and clearinghouse LedgerX.

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According to a press release shared with iHodl, the company has executed a sale and purchase agreement to acquire Ledger Holdings, parent company of LedgerX. Brett Harrison, President of FTX.US, said that the deal is a"key part" of the exchange's strategy to bring regulated crypto derivatives to its US user base.

"We believe it is incumbent upon the industry to be proactive and to seek out working relationships with regulatory groups like the CFTC to help shape the future of our industry," Harrison added.

However, the financial terms of the deal have not been disclosed. In the meantime, the White House plans to name Rostin Behnam as the new chairman of the CFT. If and when Behnam is nominated, he will oversee global derivatives market, including cryptocurrencies. However, the timing of an announcement is reportedly still weeks away, sources familiar with the matter said.

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Behnam is a long supporter of digitalization of the economy. Speaking at the Blockchain for Impact Global Summit at the United Nations in 2018, the CFTC Commissioner emphasized that "virtual currencies" are not going away and they will "proliferate to every economy and every part of the planet." However, he also noted that these assets could be a "weapon against the work of the United Nations and others trying to alleviate poverty or violence."

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