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Argentine regulators could join the US to approve a Bitcoin Futures product By BTC Peers

by Mike Robinson

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© Reuters. Argentine regulators might join the US for approval of a Bitcoin Futures Product

It is possible that the National Securities Commission of Argentina will soon follow in the footsteps of US regulators and approve a futures-tied ETF.

A Bloomberg Monday report said that the largest futures exchange in Argentina Matba Rofex seeks approval from regulators for cash-settled Bitcoin futures.

If it is approved, the Argentina’s first regulated Bitcoin Futures will launch. This comes despite the fact that similar products are available on unregulated exchanges.

Rofex will also be exploring Bitcoin futures.

CBOE Global Markets (NASDAQ:), and CME Group, launched Bitcoin futures in America in 2017. This marked the end of the bull market. After many years of rejections and stalling, US regulators last month approved the first Bitcoin futures-based, exchange-traded funds.

Considering the government’s stance towards cryptocurrencies, Rofex might obtain the approval it needs. Alberto Fernandez, President of Argentina said in August that he is open to considering Bitcoin legal tender.

I do not want to venture too far. […]But there’s no reason to deny it.

According to Chainalysis, Argentina is the country with the greatest number of crypto-adoptions.

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