Friday, 1 December 2017

US regulator approves Bitcoin trading

Bitcoin has taken another step toward the financial mainstream, after a US regulator said it would let two traditional exchanges begin trading in Bitcoin-related financial contracts.

CME Group and CBOE Global Markets exchanges will offer investors Bitcoin futures from later this month.

The move sent the crypto-currency's price up, continuing its volatile week.

Bitcoin hit a record above $11,400 on Wednesday, but then lost 20% of its value in the following 24 hours.

The announcement from the Commodity Futures Trading Commission (CFTC) that it will allow the futures to be traded was seen as a watershed moment for the currency.

It means that investors will be able to buy and sell "future" contracts in Bitcoins - an agreement to buy the crypto-currency, for example, in three months time at a certain price.

CME Group said trading would be available on its CME Globex electronic trading platform from 18 December.

BBC    News.