Argentina’s securities regulator has approved a Bitcoin-based futures index to be launched on the Matba Rofex exchange.
The Bitcoin futures contract is expected to start trading in May. The exchange claimed that this would be the first regulated Bitcoin futures in Latin America. The Bitcoin futures contract will be based on the BTC price provided by various organizations in the country offering BTC/ARS trading pairs. All transactions will take place in the national fiat currency, and investors will have to deposit Argentine pesos via wire transfer, according to the statements.
Crypto Adoption Increases
The National Value Commission (CNV), Argentina’s securities regulator, has approved the Bitcoin futures index.
The regulated Bitcoin futures index is planned to offer qualified investors a secure path in a transparent and regulated environment. At the same time, CNV requested that the Matba Rofex platform add notices warning investors of the risks associated with such financial instruments.
A bill recently proposed by the Argentine Ministry of Economy encouraged citizens to declare their crypto holdings. The South American country has taken a pro-crypto stance over the years and crypto adoption has nearly doubled compared to neighboring countries.
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