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Lighter Plans to become the first to apply for U.S. regulatory licenses Perp DEX project,LIT24-hour increase 15%BlockBeats reports,October 22，Lighter founder and CEO Vladimir Novakovski stated at the Q3 investor conference: “What we are currently seeking is to obtain DCM(Designated Contract Market) and DCO(Derivatives Clearing Organization) licenses. We have spent significant time communicating with staff at the CFTC(U.S. Commodity Futures Trading Commission), identifying all of its core principles. Many of those principles can already be clearly mapped under the existing framework to how Lighter implements them on-chain. Other principles have entirely new implementation methods that are unprecedented for regulators, but they have now spent significant time discussing them with us to understand how they work.
The next step is to formally submit these license applications next month. After that, regulators have up to 280 days to review them. Because we have completed all this preparatory work, we believe the subsequent process will proceed relatively smoothly. We are very much looking forward to obtaining these licenses in the United States and opening to the U.S. market—not to retail investors, but to institutions.”
Previously,LIT experienced a decline following “Robinhood launching perpetual contracts in the U.S. using Bitstamp.” At the time, Robinhood CEO Vlad Tenev said in an interview that the decision not to choose Lighter was based on the regulatory structure. Novakovski’s remarks at this investor conference have again prompted community speculation that, following compliance, it could cooperate more closely with Robinhood.
According to HTX market data, influenced by a series of remarks,LIT 24-hour increase once reached 15%, with the current price reported at 3.76 USD.
Original link https://m.theblockbeats.info/flash/373058