Fintech firm Tassat has been granted permission to offer Bitcoin swap contracts by the United States Commodities and Futures Trading Commission after failing to meet regulatory requirements, according to a recent statement from CFTC’s Division of Market Oversight (DMO). 

Tassat applied to become a regulated crypto derivatives exchange with the CFTC in November, but failed to launch swaps by the August deadline causing the CFTC to label the firm as dormant. The firm said the delay was caused by the ongoing COVID-19 pandemic. The CFTC's statement exempts Tassat from needing to reapply for swap execution facility status.

The statement noted that Tassat will be allowed to operate a swap execution facility in the fourth quarter of 2020 despite failing to renew its registration after 12 months without trading. 

By Emily Mason