LedgerX Co-Founders Put on Leave Following US CFTC Scrutiny

Geoffrey Gardiner   Dec 10, 2019 08:06

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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

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