Japanese regulators plan more raids

Following the massive hack of Coincheck several virtual currency marketplaces are under scrutiny
08 February 2018   1292

Japan’s Financial Services Agency intensifies oversight in hopes the businesses will take stronger security measures for consumers’ protection. On-site inspections are planned for this week, as earlier operators were asked to report on asset management, corporate governance and security. However, many companies provided vague details on their business model or were found to have low security measures in terms of asset management.

Without the scrutiny of the regulator and also the lack of professionals in cybersecurity and internal auditing on the market may lead a slow pace of the improvement. Hopefully, the planned raids will make the necessary push for more security and stronger safety in the virtual currency industry. A reprimand will lead to disciplinary measures such as improvement orders

In the race for customers’ attention, many operators didn’t properly address the security consequences of such actions.Among the total 32 cryptocurrency exchanges, Coincheck is currently one of the 16 platforms that are not formally registered with the FSA because the operation started before the cryptocurrency law went into effect last April in Japan.

CME Group Won't Launch BTC Deliverable Futures

Since the launch of bitcoin futures, CME has attracted more than 3,300 individual investors, processed 7000 contracts for 35k BTC totally
02 October 2019   155

Confirming its intention to launch options on bitcoin, the Chicago Mercantile Exchange (CME Group) noted that it would not follow the path of a competitor in the form of the Bakkt platform and would refuse to trade in deliverable futures. The director of alternative investment products CME Group Tim McCourt said this in an interview with Markets Media.

Since we launched bitcoin futures in December 2017, the number one demand from customers has been for options on our futures.
 

Tim McCourt

Global head of equity index and alternative investment products, CME Group

CME Group conducts calculations on bitcoin futures in fiat, and the company will follow the same approach with respect to options. As McCourt noted, guided by the needs of customers when developing new products, the company does not plan to launch supply contracts for bitcoin.

Since the launch of bitcoin futures, CME has attracted more than 3,300 individual investors. This year, on average, the company processed about 7 thousand contracts for a total of 35,000 BTC.

The institutional interest in bitcoin is growing but they need time to become familiar with the market and get approval to use new products.
 

Tim McCourt

Global head of equity index and alternative investment products, CME Group

Also, according to McCourt, new options can use existing technology, an application matching engine and clearing mechanisms. Currently, the exchange is conducting standard instrument testing procedures.