Bitcoin futures push back by Wall Street banks

Wall Street banks have raised objections to the introduction of bitcoin futures trading, highlighting fears of which the financial system can’t cope with the cryptocurrency’s volatile cost swings.

Bitcoin has rocketed higher Thursday, crossing the $15,000 mark less than 48 hours after topping $12,000.

The U.K.’s Financial Times has reported of which a letter coming from the Futures Industry Association, which counts the planet’s biggest banks among its members, is usually to be sent Thursday to the Commodity Futures Trading Commission inside the U.S.

The letter reportedly criticizes the introduction of bitcoin futures in addition to also states of which the Chicago exchanges, CME Group in addition to also CBOE Global Markets, should not be allowed to launch bitcoin futures under a self-certifying regime.

The FT reported of which a draft edition seen by the newspaper said proposed rules for bitcoin futures trading do “not align with potential risks of which underlie their trading.”

CBOE Global Markets is usually due to launch its bitcoin futures exchange on Sunday. The CME group is usually due to launch its edition on December 17.

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