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Attention: No comprehensive regulation
As stated in the accompanying press release of the agency, they had previously worked in close collaboration to develop common standards with the launching vendors in order to explore the new territory around crypto-derivatives.
However, a comprehensive regulation of the Bitcoin derivatives market on the US stock exchanges does not represent the approval of the CFTC. This was underlined by the authority's commissioner, J. Christopher Giancarlo. In contrast, he emphasizes that his authority has limited authority and can not provide a holistic oversight of the complex crypto market.
Market participants should be aware that the relatively recent cash markets and transactions behind the Bitcoin remain largely unregulated markets, over which the CFTC has little legal authority. There are "concerns about the price volatility and trading practices of participants in these markets",
so Giancarlo.
Despite warnings, Terry Duffy, CEO and Managing Director of the Chicago futures and options exchange CME Group, said in an interview with Coindesk that he had confidence in establishing the necessary control mechanisms.
"We are pleased to launch Bitcoin futures after working closely with the CFTC and other market participants to create a regulated offering [...] offering transparency, pricing and risk transfer opportunities."
Stock market establishment enroute?
With the approval of the CFTC, Bitcoin is taking an important step towards established financial markets. The fact that this trend could continue in the near future is confirmed, among other things, by the announcement of the New York Stock Exchange Nasdaq.
Source - earnbitcoin32.blogspot.com
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