The US Commodity Futures Trading Commission has licensed New York-based LedgerX to serve as a swap execution facility (SEF) for bitcoin and other cybercurrencies such as Ethereum's ether.

SEFs are platforms that operate under the CFTC’s regulatory aegis for the trading of swaps. The Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 authorised their creation. The CFTC issued the order under s5h Commodity Exchange Act and CFTC Regulation 37.3(b).

The CFTC is satisfied that LedgerX has proven that it is complying with the Commodity Exchange Act and the CFTC’s regulations that apply to SEFs.

With this order, there now are 25 SEFs registered with the CFTC.