Chapters
Rule 1101

Digital Asset Delivery Definitions

  • Blockchain: A distributed ledger that records transactions between parties in a verifiable and permanent way.
  • Delivering Participant: The Participant that is required to deliver the underlying commodity through the Settlement Facility.
  • Digital Asset: Bitcoin, and any other "digital currency" which is a "commodity" under the Commodity Exchange Act, as amended. For this purpose, "digital currency" means any type of digital unit that is used as a medium of exchange or a form of digitally stored value (including digital units of exchange that (1) have a centralized repository or administrator, (2) are decentralized and have no centralized repository or administrator, and/or (3) may be created or obtained by computing or manufacturing effort).
  • Digital Asset Delivery Address: A unique identifier that serves as a virtual location where a Digital Asset can be sent.
  • Receiving Participant: The Participant that is required to take delivery of the underlying commodity through the Settlement Facility.
  • Settlement Facility: The Digital Asset delivery facility, Bitnomial Settlement, LLC, or any successor organization authorized by the Exchange. Bitnomial Settlement, LLC is authorized by the Exchange and not licensed, approved, or registered with the CFTC.
  • Transfer: Transmission of a Digital Asset between the Settlement Facility and a Delivering or Receiving Participant. Delivery shall be fully effected and transferred if reflected by a consensus of nodes on the Digital Asset Blockchain and after being confirmed as such by the Settlement Facility.

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