LedgerX Co-Founders Put on Leave Following US CFTC Scrutiny

By Geoffrey Gardiner   Dec 10, 2019 1 Min Read

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Ledger Holdings, Inc., the parent company of LedgerX, feels pressure from the United States Commodity Futures Trading Commission (CFTC) after it has been reported that LedgerX physically settled Bitcoin futures products have not been approved. 

The CFTC continues to push for regulation and full approval before any crypto company wishes to offer commodities trading to US Citizens sparking what many believe could be seen as major problems for Ledger Holdings, Inc..

In July Ledger began to offer the trading services on its platform which has led to many in the CFTC commenting that this is not certified and should be. 

Ledger X Co-Founders Paul and Juthica Chou have been placed on administrative leave effective immediately. Larry Thompson is appointed as the interim CEO and lead director of Ledger Holdings who has over 30 years of wall street experience.  The reason for the personnel change remains unclear. 

With board changes and regulatory scrutiny from the CFTC, it is expected that Thompson needs to step up and negotiate the best next steps for Ledger.

Images via Shutterstock

About the author

Geoffrey Gardiner
Geoffrey is a computer programming and media honours major. He started his career with the largest network provider O2 Telefonica in Europe. After 5 years Geoffrey moved to Asia and entered into the crypto space. From 2017, he has been working with many projects and learning the foundations of Blockchain. Geoffrey continues to work with exchanges and publish content. Publications include: Unidax Exchange Bitboycrypto Coinninja Blockchainnews Altcoin magazine Cryptomarketnews

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