Ledger X is the first regulated cryptocurrency exchange in the US
In just a few months, digital currency investors and miners will be able hedge their investments under US regulatory oversight.
The cryptocurrency trading platform operator, Ledger X has been been granted registration by the US Commodity Futures Trading Commission to become the first federally regulated digital currency options exchange and clearing house in the US.
Paul Chou, Ledger X's chief executive noted how this is a big step for digital currencies that could affect the market worldwide, saying:
"It's an important milestone for the digital currency market broadly. This will pave the way for others globally to look at this space and the appropriate way to regulate a new market like this."
By late September or early October of this year, the company plans to offer one to six month bitcoin-to-dollars options contracts. Contracts for other popular digital currencies such as Ethereum are expected to follow as well as ones for more long-term protection.
Ledger X is backed by Alphabet's own venture-capital arm and its goal is to give investors the chance to hedge against price swings in digital currencies the same way that they do with other assets.
The cryptocurrency community has been in disagreement over the best way for the sector to mature in order to bring in a larger investor and user base.
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