CME Asks CFTC to Double Bitcoin Futures Capacity as Interest Soars
The Chicago Mercantile Exchange (CME) Group is petitioning United States regulators to allow its clients to double their open Bitcoin futures positions.
Double open positions limit, says CME
According to Nasdaq on Sept. 12, CME has already put its plans before the Commodity Futures Trading Commission (CFTC).
If successful, each investor would gain a monthly limit of 2,000 contracts per spot month instead of the current 1,000.
The move comes on the back of constant growth in demand for Bitcoin futures, with CME’s volumes setting new records on a regular basis.
As Nasdaq notes, the CFTC officially states that lower-risk trading instruments are not subject to limits. Therefore, an agreement to lessen the strict controls for CME could be construed as the regulator having more faith in Bitcoin (BTC) options than before.
“This is one more way we’re providing customers, institutional traders and end-users with additional flexibility to trade and hedge bitcoin price risk,” a spokesperson told the publication.
March of the Bitcoin futures contracts
CME was one of the first Bitcoin futures operators, launching its product in December 2017. Since then, the market has expanded, with the second half of this year set to see a significant increase in overall interest.
Later in September, Bakkt, the regulated trading ecosystem for institutional investors, will launch physical Bitcoin futures, which pay out returns in BTC instead of fiat currency.
Cryptocurrency exchange Binance is currently testing two potential futures trading platforms.
If reproduced, please indicate the source: https://www.uucj.net/cme-asks-cftc-to-double-bitcoin-futures-capacity-as-interest-soars/
According to an executive, cryptocurrency exchange Bitfinex is planning to launch options and a gold-backed stablecoin, among a host of new products. New range of products In a Nov. 12 appearance on the Scoop, Paolo Ardoino, CTO of Bitfinex and Tether, told the Block that Bitfinex is considering launching options trading, while also taking a closer look at prospects for a gold-backed stablecoin, dubbed Tether Gold. Although Ardoino didn’t reveal any additional details about Tether Gold, he did reveal that the company is currently eyeing a Q1 2020 launch of options tradign, and that they are working with external market makers to ensure liquidity. Ardoino further mentioned that Bitfinex will enable its clients to buy a variety of items with cryptocurrency using a gift card. Reportedly, Bitfinex has plans to collaborate with a well-known partner who will provide the gift cards. He said: “It’s important that people can see the farther value of having cryptocurrencies rather than just trading back and forth between Bitcoin and USD or whatever.” Cointelegraph contacted Joe Morgan regarding these latest developments but had yet to…Nov 13, 2019
Bitcoin hater Peter Schiff believes that speculators will start dumping bitcoin after the pot stock crash. The crypto asset and pot stocks do not have a correlation. Schiff’s argument stands defeated given that the two assets have entirely different characteristics. Peter Schiff doesn’t like bitcoin. He gets really happy whenever the price of the flagship cryptocurrency takes a hit. In fact, the market bear does not let go of any opportunity to take a swipe at the crypto asset, hoping that his actions will bring more hurt to cryptocurrency enthusiasts. His latest ploy to bring down bitcoin is comparing the cryptocurrency to pot stocks. Source: Twitter Schiff justifies his hatred for bitcoin using pot stock meltdown Schiff, who is the CEO of Euro Pacific Capital, says that bitcoin will eventually follow the path of pot stocks. He believes that the rally in pot stocks seen earlier this year was driven by speculators, who were also buying the crypto asset. The pot stock rally went bust in recent months. This is evident from the sharp decline in the U.S. Marijuana Index…Nov 18, 2019
Bitcoin on the low alongside other cryptocurrencies as America’s president, Donald Trump eased the air between them. As tension in Iran dropped, Bitcoin falls below $8000 and the value of several other cryptocurrencies continues to fall. Here’s a bit of good news as we go to press: Bitcoin’s next macro uptrend may start sooner than you think. After posting what appeared to be a grim break below $8,000 yesterday, Bitcoin’s bulls have thus far been able to step up and defend a key monthly support level. BitcoinsBitcoin dropped below $8,000 overnight after the situation between the two countries showed signs of resolving itself. This has got crypto analysts talking as they predict that Bitcoin value would continue to drop. Currently, bitcoin trades below 5% at its current price of $7,930 a contrast to its high $8,400 where it rose to when the tension was building up. This price, which subsequently became a key support level, was decisively broken below yesterday when bulls ramped up their selling pressure US, Iran Brawl The world is currently on the brink of World War…Jan 11, 2020
An Iranian response is likely to hang over the market for years to come, but investors are likely to settle down in the near-term. The stock market’s inflated valuations may make a rebound more laborious. Oil prices and the industries they impact offer the best contrarian plays at present. The US is awash with speculation on how Iran will retaliate to the US airstrike that killed Qassem Soleimani. The news of Soleimani’s death took stock markets markedly lower and caused investors to flee for safe-haven investments. Investors fear that Iran’s response will have an even greater impact on the US stock market in the months ahead. Iran Will Play the Long Game Increased violence in the Middle East led by Iran-backed militia is the most likely outcome. | Source: Ali DIA / AFP The most likely outcome is a rise in conflict with Shiite militia groups in Iraq. These fighters could target US officials and civilians in Iraq and throughout the Middle East. Iranian President Hassan Rouhani likened Soleimani’s killing to the 1953 US-led coup against Iran’s government, which eventually…Jan 5, 2020
On Wednesday most cryptocurrencies were trading in red again including Bitcoin (BTC) that, in the last 24 hours couldn’t turn its trace. Bitcoin closed on Tuesday the day at the $7,198 price mark, at which point the world’s largest crypto coin found an intra-day high on Wednesday of $7,227, before moving down again towards its current trading price near $6,945 still falling by 3.51 at 11:53 am CET. Among the possible influencing factors we should mention the recent Upbit hacker attack. BTC is still down around 15% from the weekly open of $8,200, while, in November, for now, investors have lost close to $2,000 per coin. According to some analysts, the support at $6,500 was more than enough for the bulls, but Bitcoin is probably to stay around the $6K price region meaning it could even retest the 200-week moving average, currently around $5,400. More positive about BTC’s outlook was PlanB, the Twitter analyst known for his Stock-to-Flow Bitcoin price charts. He suggested that Bitcoin could easily retake five figures before 2020. Call me crazy, but it wouldn’t surprise me…Nov 27, 2019
France-US skirmish over Amazon digital tax shows why the century-old international tax system is broken |
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Trump and Macron agreed to a detente in their trade spat. AP Photo/Evan Vucci France and the U.S. have managed to avoid turning their recent trade skirmish into a war – for now. The dispute involves France’s decision last summer to unilaterally reach outside the United States-French tax treaty framework to tax U.S. tech companies like Google, Amazon, Facebook and Twitter. Calling the French tax an illegal trade practice, the U.S. vowed to retaliate with 100% tariffs on a broad range of French products. After talks in January, French President Emmanuel Macron and President Donald Trump appeared to reach a truce. France agreed to delay the digital tax until the end of the year, and the U.S. won’t impose more tariffs. The truce allows time for tax officials from nearly 140 countries including France and the U.S. to hammer out a deal to modernize the international tax system. On Jan. 31, they agreed to push ahead with negotiations to rewrite global cross-border tax rules by the end of the year….Feb 1, 2020
Tokyo Government Runs Trial Implementation of Independent Tokyo YUA Coin Point System, Considers Issuance of Digital Currency |
NHK reported on December 6 that the Tokyo Metropolitan Government has decided on a policy for trial implementation of its own loyalty point system called Tokyo YUA Coin (tentative name). The trial is expected to be conducted from January to February next year, targeting Otemachi, Marunouchi, and Yurakucho and areas along the Tokyu Railway in Tokyo. The government is also considering issuance of an independent digital currency in the near future. The point system initiative intends to promote the shift to a cashless society and activities related to the United Nation’s Sustainable Development Goals (SDGs). Tokyo YUA Coins will be granted to people who use cashless payments for expenses linked to contributing to the SDGs in their daily life, such as commuting during off-peak hours to alleviate crowding during the morning and evening rush, using their own eco-bag for shopping, and reducing plastic waste. In line with the consumption tax rising from 8% to 10% in Japan in October 2019, medium and small business operators are introducing measures over the next nine months that will allow for loyalty…Dec 11, 2019
The U.S. Marshals Service is auctioning nearly $40 million in bitcoin, the first such auction since the end of 2018. ,Feb 3, 2020
Social messaging applications such as WhatsApp are quite popular among cryptocurrency enthusiasts. It now seems that service providers are building dedicated products for these users. Gaby and Bancor are partnering to bring more cryptocurrency services to WhatsApp. Converting Digital Assets Through WhatsApp A remarkable decision, albeit one that can also boost global adoption of Bitcoin and altcoins. The goal of this partnership is to facilitate the exhcange of established digital assets. Those include Ethereum and ERC20 tokens, with potentially more to be added in the future. Under the hood, Bancor and Gaby use Bancor’s smart contracts. Those have been integrated into Gaby Wallet. It is always interesting to see what a cross-over between smart contracts and a cross-platform network focusing on blockchain for social communities can bring to the table. In this case, it appears that managing crypto holdings through WhatsApp is one option being explored. WhatsApp remains one of the biggest social messaging platforms in the world. It has a very large user base, making it a perfect target for cryptocurrency-oriented projects. Other basic functionality is provided as well,…Jan 23, 2020
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte XRP lost over 2% in the past day but bulls remain in charge of the market as possibilities of breaching $0.300 USD becomes clearer. XRP is balancing lightly on the $0.2540 USD resistance with a bullish view to breach $0.30 USD in the coming days. Bouncing off near term support provided by the middle line of the daily Bollinger bands at $0.2280 USD further shows a possibility to breach the psychological resistance at $0.3000 USD. Can bulls pressure the selling traders off the markets? XRP/USD slightly drops by 2.96% from intraday highs as bulls failed to breach key resistance at $0.2500 USD. The third largest cryptocurrency currently trades at $0.2300 USD, with a total market cap of $10.4 billion. The price represents a sustained sideways trading momentum in the market since breaking the $0.2000 USD mark at the start of the month. XRP/USD set to break key resistance at $0.2500 USD Looking at the daily XRP/USD charts, the price of the third largest crypto asset looks set to breach the…Feb 2, 2020