Ananya DuttaA lot happening around Bitcoin Futures products recently, The Chicago Mercantile Exchange Inc. (CME) and the CBOE Futures Exchange (CFE) self-certified new contracts for Bitcoin futures products, causing ripples in the investment world. It needs to be understood that the Cantor Exchange recently self-certified a brand new contract for Bitcoin binary options.
Bitcoin has been making news for the right reasons in the past few months. The Cryptocurrency started off as something mediocre and is surging slowly and steadily in the past few years since its launch in 2008. This announcement of offering Bitcoin futures contracts to mainstream investors made by leaders in the future exchange arena has caught widespread attention. This definitely acts as a green signal about the future of Bitcoin.
CME Group, one of the most popular exchange companies, announced the intention to launch future products on Bitcoin on October and is now all set to launch it. The new contract for trading will be available on December 17, 2017 which falls on a Sunday.
It needs to be kept in mind that regulatory bodies have already begun the regulation of the cryptocurrency arena so that it is in line with the trading and commodities space. The Commodity Futures Trading Commission (CFTC) recently issued a statement on Bitcoin Futures self-certified products of CME and CFE.
CFTC Chairman J. Christopher Giancarlo says:
Bitcoin, a virtual currency, is a commodity unlike any the Commission has dealt with in the past. As a result, we have had extensive discussions with the exchanges regarding the proposed contracts, and CME, CFE and Cantor have agreed to significant enhancements to protect customers and maintain orderly markets.
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