Argentina’s National Securities Commission Approves Bitcoin Futures
The agency authorized the regulation of a futures contract based on a bitcoin index of Matba Rofex, an Argentinian stock exchange.
Apr 12, 2023 at 3:12 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/Z75HUVQ4W5B4JHFNTFILVVNNKY.jpeg)
Argentina flag (Unsplash)
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Argentina’s National Securities Commission (CNV) authorized the launch of a bitcoin (BTC) index-based futures contract on Tuesday, according to a statement.
The contract is to be based on the bitcoin index of Matba Rofex, an Argentinian stock exchange, with negotiation and settlement in Argentinian pesos.
“The measure adopted through a resolution is intended to adapt to the regulatory challenges imposed by new technologies for the provision of financial products,” said the CNV. “ It also seeks to promote the development of new and innovative products by its regulated entities in the capital market.”
In February, the CNV said it would establish and regulate requirements to be followed by crypto companies in that country, a competence specified in a reform of the money laundering prevention law that is being discussed in the Argentine Congress.
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Andrés Engler was a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.
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