NADEX resumed offering bitcoin contracts after a long break that lasted until February the 9th. At the moment, Tera Bitcoin Price Index is available again, and there is no need to stop bitcoin trading, as all technical issues have been fixed.
The main issue with bitcoin contracts was that they were based on Tera Bitcoin Price Index, generated by TeraExchange that wasn’t CFTC regulated. As US binary market is one of the most regulated in the world, this step was necessary, as companies can operate with temporary registration status only for a shorter period of time. TeraExchange explained:
“Our TeraExchange bitcoin forward is a short-term, U.S. Dollar settled forward. On the contracted settlement date, the profit or loss is adjusted between the two counterparties based on the difference between the contracted rate entered into on trade date and the prevailing Tera Bitcoin Price Index at the time of settlement.”
TeraExchange obtained the CFTC license in late May, but the same company was involved in some unethical practices. TeraExchange was charged in September after the CFTC discovered that they were offering some non-deliverable contracts as test-contracts to traders, and later listed them as public. CFTC hopes that the registered status will prevent such behavior in the future. Find out more about this bitcoin exchange.
NADEX is one of very few regulated binary exchanges in the US and the biggest trading platform for binary traders who are US citizens. It provides safe and reliable trading environment with superb customer support. Read full NADEX review here.