Singapore Considers Crypto Derivatives Trading On Approved Exchanges
November 21, 2019
Singapore Considers Crypto Derivatives Trading On Approved Exchanges
November 21, 2019

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has proposed bringing crypto derivatives trading under its scrutiny.

On Nov. 20, a BNN Bloomberg report stated that the MAS’ proposal would make trading of derivatives on underlying assets like Bitcoin (BTC) and Ether (ETH) subject to the city-state’s Securities and Futures Act.

According to the MAS, it plans to extend its remit to crypto derivatives that have been urged by interest from hedge funds and asset managers engaged in the sector.

Bitcoin derivatives trading globally currently sees $5–10 billion in daily traded volume, while exceeding spot volume by 10 to 18 times, the report notes.

MAS has said its proposal will “allow approved exchanges in Singapore to meet the need of investors to manage their exposure to payment tokens while bringing the activity under regulatory oversight.”

Rise In Crypto Derivatives

In recent news, the Intercontinental Exchange’s (ICE) Bakkt platform is planning to expand its existing Bitcoin futures products to include a cash-settled option. Sources claim that the new contract will be offered via ICE’s Singapore-based clearinghouse, ICE Clear Singapore, and traded on the ICE Futures Singapore exchange. 

ALSO READ :  German Startup Aims to List Bitcoin Product on Frankfurt and Luxembourg Exchanges

CoinGecko announced that it is launching its own cryptocurrency derivatives section. The derivatives section will offer additional statistics so users can track more than 100 derivatives products that are offered by over 20 derivatives exchanges.

Source: BNN Bloomberg | Cointelegraph


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Quidax Reports More Than $3.2 Billion In Transactions

Quidax Reports More Than $3.2 Billion In Transactions

Quidax, the Nigerian cryptocurrency exchange, has reported more than $3.2 billion in transactions, underscoring the rapid adoption of digital assets in Africa’s largest economy. It has been reported that Quidax, since...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.