CFTC to Issue Crypto Derivatives Guidance

The advisory addresses market surveillance, large trader reporting, risk management and governance
23 May 2018   545

The leading regulator of the US markets has issued a new guide for exchanges and other trading platforms, which may be interesting listing of futures for bitcoins and other crypto-currency derivatives. This is reported by Coindesk.

In the published document, the Commodity Futures Trading Commission (CFTC) provides a number of guidelines that are recommended for the trading platforms that open up a new market for digital assets.

In particular, the CFTC recommends that exchanges provide the ability to monitor the integrity of the underlying digital asset market with which they set prices for their instruments, work closely with CFTC staff, consult with industry representatives before launching a product, and report to description of the behavior of tools.

In addition, the guidance is designed to help ensure that market participants follow appropriate governance processes with respect to the launch of these products.

Brian Bussey

Director, Division of Clearing and Risk 

A week ago, the representative of the CFTC urged regulators to determine the status of the Ethereum cryptocurrency ASAP.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   107

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.