Singapore proposes to regulate cryptocurrency futures

HONG KONG (Reuters) – Singapore’s central bank plans to bring bitcoin and other similar cryptocurrency futures traded on approved exchanges under its regulation in response to interest from international institutional investors, it said on Wednesday. Market watchdogs worldwide have been debating whether and how they should regulate the cryptocurrency industry. Some US-based exchanges including the Chicago Mercantile Exchange and ICE Futures US, already allow trading of bitcoin futures. However, Hong Kong’s Securities and Futures Commission said earlier this month that exchanges allowing trading of bitcoin futures “may well be conducting an illegal activity.”MAS only proposes to regulate futures traded on exchanges it already regulates. It warned investors it did not regulate token derivatives not traded on approved exchanges.

Read Full Article Here

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

NYOOOZ FRIEND

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Related Articles