Trade in Bitcoin Futures has received a green light in the United States
Trade in bitcoin futures officially received green light from the US regulator, prompting a rise in the price of the virtual currency.
Yesterday, the Commodity Futures Trading Commission (CFTC) said it would allow this new type of trading to take place on three different exchanges, Business Insider reports.
CFTC said in a statement that Chicago Mercantile Exchange and CBOE Futures Exchange were allowed to trade in bitcoin futures while Cantor Exchange - trading with bitcoin binary options.
Futures contracts will allow you to bet on the cost of a battleship without the need to buy cryptocurrency
. CBOE and CME point out that futures trading will be settled in cash.
As a result of the news, bitcoin rise again over $ 11,000 after yesterday's trading in the late afternoon at about $ 10,400.
In the early hours of yesterday, the price of the virtual currency was below $ 10,000. So in less than 24 hours, bitcoin rise more than $ 1,000, demonstrating its volatility again.
Since the beginning of the year, bitcoin has risen by about 1,000% and has already attracted the attention of the classical financial world. Futures trading will open the door to the institutional investors' virtual currency market.
The decision of the US regulator and two with a warning that bitcoin remains an unregulated market.
"Bitcoin is an asset that no committee has ever fought against," says Christopher Jiancarlo, president of the CFTC.
The CME Exchange will start trading withbitcoin futures on December 18 this year.
images source- https://pixabay.com
source: coindesk
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