Bitcoin Future Risks To Be Reviewed By US Derivatives Regulator
Two meeting will be held by the U.S derivatives regulator to discuss the trading procedure of bitcoin despite the rising concerns over the risk.
The U.S derivatives regulator will conduct two meeting to tackle the procedure and operational controls regarding the listing and trading bitcoin.
The technology and risk advisory committee of The Commodity Futures Trading Commission (CFTC) would be summoned this January to discuss the ‘self-certification’ process for listing the digital currency futures and how those products are risk-managed.
The North American Securities Administrators Association (NASAA) and the Securities and Exchange Commission (SEC) also warned the investors of the risks investing in bitcoin because the regulators might not able to protect them from fraudsters all the time.
In December, bitcoin futures has been launched by CBOE Global Markets Inc (CBOE.O) and CME Group Inc (CME.O), which stirred criticism from some participants saying that regulators should have consulted the market before the product approval.
The Futures Industry Association has also expressed their concern regarding the potential risk of allowing futures in volatile virtual currencies, which will be traded with more traditional financial products.
Last month, bitcoin is worth more than $19, 000, which drops more than 28 percent but still ended up 2017 to 1, 300 percent.
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