Argentina’s securities regulator has approved the launch of a Bitcoin futures index. According to sources, the Bitcoin futures index will debut on the Matba Rofex market in May.
The exchange bills itself as South America’s first licenced Bitcoin futures exchange.
The National Commission of Value (CNV), Argentina’s securities regulator, approved the futures contract as part of the country’s strategic innovation goal.
The Bitcoin futures contract will be determined by the price of Bitcoin on several Argentine platforms that allow BTC/ARS trading pairings. Bank transfers will be used to settle trading transactions in Argentina’s national currency, Pesos.
Exchanges offering Bitcoin futures contracts must have a valid agreement with a duly registered payment services provider under the Central Bank of Argentina. That is the only condition for the financial regulators to approve the payment transactions.
The new Bitcoin futures index would provide qualified investors with secure BTC exposure in a transparent and regulated environment. In addition, the CNV ordered the Matba Rofex exchange to install notifications that notify investors of potential dangers.
Argentina’s crypto-friendly environment has attracted big exchanges looking to expand their operations. The Bitcoin futures contract clearance comes just a few days after Binance unveiled its Argentina development strategy.
Binance even launched a new option that will allow Argentine consumers to deposit fiat money into a Binance wallet and then utilise their balance to purchase cryptocurrencies. Argentina is getting closer to a tipping point in terms of cryptocurrency acceptance, thanks to recent developments.
