25 Feb 2014 / Business Insider – The first U.S.-based Bitcoin exchange network is now in the works, hours after MtGox, once the world's largest Bitcoin exchange, vanished.
SecondMarket, the alternative asset management firm currently overseeing the world's largest Bitcion investment vehicle, plans to spin off its Bitcoin desk into a brand new company that would become a fully regulated Bitcoin trading hub.
Using London's Intercontinental Exchange commodities market as a model, SecondMarket CEO Barry Silbert said he envisions as a hub and spoke arrangement, with his firm serving as a "meta-exchange" through which certified member exchanges and market-makers could trade with one another.
The organization would serve three roles: price discovery, central clearing, and, most ambitiously, as a self-regulatory organization, like FINRA. SecondMarket would front $20 million in cash and Bitcoin assets.
"We have half a dozen conversations ongoing with global banks, a high level of interest and early support from global banks to be part of this," he told BI by phone Tuesday. "We've spent a fair amount of time with regulators, they're very aware of what we're doing."…. Read more
http://www.businessinsider.com/new-secondmarket-exchange-2014-2#ixzz2uLtMiURK
