BTC Breakthrough in Argentina: Legitimized Futures on Rofex!
On the Matba Rofex exchange, scrutinizes regulator of Argentina, named the National Commission of Bellevue (CNV), approves the future contracts of the Bitcoin index.
According to the Future contract, the investors can gain exposure to the price of Bitcoins without having assets. So, they will be settled and traded in Argentina Pesos.
Key Takeaways:
- BTC futures approved on Rofex Exchange, providing exposure without holding assets.
- Approval is part of CNV’s Innovation Agenda, promoting innovative financial products.
- Regulated market infrastructures ensure safe access to Bitcoin price fluctuations.
- Bitcoin Index based on prices provided by entities in BTC/ARC pair operation.
- Approval is a positive step towards developing the capital market in Argentina.
CZ Binance announced on Twitter that Benzinga reported that the Argentine Securities Regulator has approved BTC index Future contracts on Rofex Exchange. So, it is a remarkable step to validate Bitcoin in the financial market of Argentina.
Moreover, this move is a very important part of the Strategic Innovation Agenda of CNV. This future contract helps deal with the challenges the new technologies create in providing financial products.
Also, this contract promotes innovative and novel product development in the capital market by regulated entities.
DrewK takes to Twitter to share the news that the approved future contract bu Argentina’s securities allows the trading of Bitcoin.
So that in the future, Bitcoin could be sold and bought at specified times and predetermined prices. This move is a significant step toward Bitcoin adoption in Argentina.
The entities involved in the BTC/ARC pair operation provide Bitcoin’s price, and the Bitcoin Index is based on that Bitcoin’s price. These bitcoin prices are deposited by bank transfer in Argentina pesos.
However, it should be noted that CNV has no control over these price providers and entities.
Moreover, it is necessary to ensure that Matba Rofex S.A. has a justified contract for using and providing theirs in the country. This contract should have a payment Services Provider (PSP) registered with the central bank named Central Bank of Argentina Republic (BCRA).
On the regulated market infrastructures, trading of derivative products enables qualified investors to access Bitcoin’s price fluctuations safely. By this, investors’ portfolios should be safe, and risks should be managed.
Furthermore, to warn the investors of possible contingencies in instrument formation and risks associated with these products, Matba Rofex S.A. comprised alerts.
PiNetwork Upto posted on Twitter regarding the recent news that in the financial system of Argentina, Bitcoin received official recognition because of the approval of the Bitcoin index future contract for trading.
However, CNV launched an Innovation Hub a year ago, and this move is a part of that. This Innovation Hub is a private and public collaboration space where entities and regulated companies are encouraged to evolve with services and financial products for new technologies in the capital market.
Moreover, this Bitcoin Future contract is a positive step for developing the Capital market of Argentina. This contract is used for promoting Innovative products for regulated entities and developing the changing financial landscape.