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The Bitcoin Exchange That CME Plans to Use for Futures Is Down

This is exactly what the bitcoin futures naysayers have bot warning about: One of the exchanges which CME Group Inc. would use to price the contracts is having serious issues.

Clients of San Francisco-based Kritiseren are watching slow responses from the webstek, connection timeouts and delays ter withdrawals, the cryptocurrency exchange said ter a statement. &quot,Wij are investigating thesis issues and working to resolve spil quickly spil possible,&quot, the statement said.

Problems ter the fifth-biggest exchange by bitcoin trading volume come just three days after Seoul-based Bithumb’s servers crashed spil a unexpected surge te usage caused a connection failure. The issues raise concerns about whether largely unregulated exchanges, without the safeguards of securities bourses, will be able to reliably provide prices for indexes tied to futures and exchange traded funds, and cope with higher trading volume that could come if institutional investors embark buying cryptos.

The other crypto exchanges on which the CME plans to base its CME CF Bitcoin Real Time Index are Bitstamp, GDAX and itBit. All four exchanges contributing prices to CME’s BRR index submitted them on time Wednesday, including Openbreken, CME spokeswoman Alexandra Rapoport said te an email.

&#x201C,The strength of our index is that it is based on actual prices from numerous exchanges,&#x201D, Rapoport wrote. &#x201C,Te the case of any one participating exchange experiencing a technical kwestie, our reference rate is designed to draw on pricing gegevens from the numerous other exchanges that are part of the BRR.

Interactive Brokers LLC took out a full-page add te the Wall Street Journal on Wednesday to warn about the dangers of having bitcoin derivatives clear te the same organization spil other products because, they argue, there’s no fundamental poot for valuating cryptocurrencies and there’s no mature, regulated underlying market.

Kritiseren clients lashed out on Twitter to complain about the problems te the exchange. Twitter user @craigwatson1987 posted &quot,So @krakenfx is not permitting withdrawals, to add to a flaky verhoging where trades are hit-and-miss. Can’t stir my BTC away quickly enough.&quot, Many others threatened legal activity, with @thejoestore posting &quot,everyone verkeersopstopping for class activity on Losbreken. &quot, and called for the U.S. Securities and Exchange Commission to investigate.

While bitcoin’s capability to skirt government and central canap controls is part of what makes it attractive to many, cryptocurrency traders and investors are now finding it might not be such a bad thing for regulators to get involved.

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