Let's Come Together (Regulatory Digest, Jan 31 — Feb 6)

India to see crypto as a treat, false SGP crypto, US investigating crypto in sex trafficking, Swiss-based crypto banknotes, Italy, Belarus, Thailand and Philippines to back up crypto, crazy Venezuela again, Saudi Arabia working with UAE, Iran prompting discussions

These websites falsely claim that Singapore is adopting a cryptocurrency as its official coin. They also claim that a firm has been appointed exclusively to market this cryptocurrency.

Monetary Authority of Singapore

Starting a new chapter in its international monetary transactions to circumvent U.S.-led sanctions, Iran is in negotiating the use of cryptocurrency in its financial transactions with eight countries.

Mohammad-Reza Modoudi, Acting Head of the Trade Promotion Organization

Related news

Bakkt Parent Firm ICE Brings Bitcoin ‘Cash-Settled’ Futures to Singapore

Bitcoin’s ‘cash-settled’ futures market is coming to Singapore. ICE, the operator behind Bakkt’s BTC futures firm, has chosen to offer this new product, which will be traded on ICE Futures Singapore. Bitcoin Cash Settled Futures Appeals to Institutional Clients Bakkt has achieved exponential growth with physical delivery futures, but the international expansion chose the cash-settled route. The move was announced just as the Singapore Money Authority announced its readiness to regulate crypto trading, opening a research period until December 20. For the Singapore market, the futures will derive information from the Bakkt physical delivery market. “Our new cash-settled futures contract will offer investors in Asia and around the world a convenient, capital-efficient way to gain or hedge exposure in bitcoin markets,” said Lucas Schmeddes, President & COO of ICE Futures and Clear Singapore. Building off the success of our deliverable futures contract, the cash-settled futures will leverage ICE’s regulated, globally-accessible market to offer a safe, secure and compliant environment for the trading of bitcoin. After a period of discussion and approval, the ICE Singapore will list the futures on December 9. The scheduled day arrives just a day after Bakkt launches options on futures for the US market. Bakkt Futures See Constant Demand Growth Demand for Bakkt futures has grown slowly over the past month, showing volatile daily interest in terms of contracts and physical BTC traded. For Bakkt, the daily activity is steady above 1,000 BTC. Daily summary of Thursday's Bakkt Bitcoin Monthly Futures: Traded contracts: 1648 ($12.41 million, +10%) All time high: 1756 (11/8/2019) Open interest: $1.36 million () Follow @BakktBot for updates – Sats welcome @ https://t.co/TF6sNUwWpO pic.twitter.com/XbqjM0A1pF — Bakkt Volume Bot (@BakktBot) November 22, 2019 Futures markets are seen as the new source of liquidity for Bitcoin price discovery. Cash-settled futures avoid the need to hold BTC, although Bakkt Custody offers that option. However, a fully approved futures market avoids the pitfalls of using BTC and possibly facing problems with the origin of coins. Institutional and international interest in Bitcoin trades has grown over the past years, despite slower retail demand and diminished general popularity. BTC is still volatile and has not recovered its December 2017 peak, but institutional interest has not abated. Bitcoin futures will also help offset BTC’s still relatively high volatility. Bakkt marked record volumes just as BTC returned to volatility in October, and in the past four weeks swayed between lows of $7,400 and highs above $10,000. What do you think about ICE’s expansion to Singapore? Share your thoughts in the comments section below! Images via Shutterstock, Twitter: @BakktBot The post Bakkt Parent Firm ICE Brings Bitcoin ‘Cash-Settled’ Futures to Singapore appeared first on Bitcoinist.com.
Bitcoinist

ICE Futures Singapore to launch first-ever cash settled Bitcoin contract

Intercontinental Exchange Inc. [ICE] has announced the launch of Bakkt Bitcoin [USD] Cash Settled Monthly Futures contracts which will be listed on ICE Futures Singapore and cleared by ICE Clear SingaThe post ICE Futures Singapore to launch first-ever cash settled Bitcoin contract appeared first on AMBCrypto.
AMBCrypto

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.