CME Head: BTC futures will decrease the coin's volatility

Terry Duffy, Head of CME Group, believes that he launch of bitcoin futures on the traditional financial will help reduce the volatility of the BTC
17 November 2017   549

According to the head of CME Group, Terry Duffy, the launch of bitcoin futures on the traditional financial will help reduce the volatility of the first crypto currency. This is reported by the Business Insider.

Listen, it’s no mystery, this is a different product. We want to get out something that’s safe. 
 

Terry Duffy

Head, CME Group

According to mr. Duffy, BTC volatility will be reduced due to these factors:

  1. Bitcoin futures will not be able to trade 20% below or above the price of settlement the previous day.
  2. Bitcoin futures traders will have to put up approximately 30% collateral in the event they lose the bet.

Also, he belives that Bitcoin futures most likely, will attract to the market a younger generation of traders.

There’s a lot of young people that will like this type of marketplace, and they don’t even know what futures are today.
 

Terry Duffy

Head, CME Group

 

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   78

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.