The Argentinian financial markets regulator, the National
Securities Commission (CNV), has approved the first Bitcoin-based futures
contract, which gives investors exposure to the top cryptocurrency. It marks
the first time the regulator is approving the first crypto product in the
country.
The futures contract is
based on the Bitcoin index listed on the Argentinian securities exchange, Matba
Rofex. Following the listing, Matba Rofex released the guidelines on how the
futures contract will be traded in a statement yesterday (Thursday).
“The measure, which
was adopted through a resolution, intends to facilitate adaptation to the
regulatory challenges imposed by new technologies in the provision of financial
products,” the CNV said in a statement translated from Spanish.
One of the guidelines is
that the futures contract will be traded only by qualified investors, as
defined by the CNV. Under the guideline, the payment services providers offering the futures
contract are required to verify whether their users are qualified to trade.
Additionally, the CNV
stated in the statement that Matba Rofex must ensure that the payment services
providers are registered with the central
bank of Argentina. It is one of the measures the…
