aRGENTINA CONSIDERING TO ALLOW CRYPTO FUTURE TRADING
The biggest future market in Argentina, Metba Robex has applied for approval from the country’s regulatory authority., reported Bloomberg.
After the rapid growing adoption throughout the globe, cryptocurrencies are making their way for acceptance in security markets. The National Security Commission of Argentina is reviewing a proposal of launch of cash settled Bitcoin future. First ever bitcoin futures were launched in U.S. few ears ago. The increasing penetration of bitcoin into security markets will pave the way to stabilise the current fluctuation in its prices by providing confidence to the investors. Further, by trading in futures will enable businesses to hedge the risks for price fluctuations of cryptocurrencies.
In the month of August this year, Alberto Fernández, President of Argentina, in an interview to local television, commented that he was open to the prospect of adopting Bitcoin as legal tender. According to the 2021 Global Crypto Adoption Index by Chainalysis, Argentina is among the top countries for adopting cryptocurrencies.
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