Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Wall Street banks push back on launch of bitcoin futures

Thursday, December 7, 2017 15:57
% of readers think this story is Fact. Add your two cents.

Headline: Bitcoin & Blockchain Searches Exceed Trump! Blockchain Stocks Are Next!

gata.org / By Philip StaffordFinancial Times, London / December 7, 2017

The world’s largest banks are pushing back on the introduction of bitcoin futures, raising concerns with U.S. regulators that the financial system is ill-prepared for the launch of the contracts as the value of the volatile cryptocurrency has soared.

The price of bitcoin has risen to a new high of more than $15,000 on several exchanges. Institutional investors have been keen to trade the asset but only via a regulated market.

However, the planned launch in the next 10 days of futures contracts by the Chicago exchanges CME Group and CBOE Global Markets, given a green light from the Commodity Futures Trading Commission last week, has prompted a backlash among the major brokers who backstop trading across the industry.

According to a draft letter to the CFTC from the Futures Industry Association, the main futures industry lobby group whose members include all the largest Wall Street banks, the rapid introduction of bitcoin futures “did not allow for proper public transparency and input.”

The lobby group represents some of the world’s largest brokers, including Goldman Sachs, Morgan Stanley, JPMorgan, and Citigroup. …

… For the remainder of the report:

https://www.ft.com/content/5ee5fda2-daa7-11e7-a039-c64b1c09b482

SOURCE

The post Wall Street banks push back on launch of bitcoin futures appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/12/07/wall-street-banks-push-back-on-launch-of-bitcoin-futures/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.