The Argentinian financial markets regulator, the National Securities Commission (CNV), has approved the first Bitcoin-based futures contract, which gives investors exposure to the top cryptocurrency. It marks the first time the regulator is approving such a product in the country.

The futures contract is based on the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term index listed by the Argentinian securities exchange, Matba Rofex. Following the listing, Matba Rofex released the guidelines on how the futures contract will be traded in a statement yesterday (Thursday).

"The measure, which was adopted through a resolution, intends to facilitate adaptation to the regulatory challenges imposed by new technologies in the provision of financial products," the CNV said in a statement translated from Spanish.

Trading Guidelines

One of the guidelines is that the futures contract will be traded only by qualified investors, as defined by the CNV. Under the guidelines, the payment services providers offering the futures contract are required to verify whether their users are qualified to trade.

Additionally, the CNV mentioned in the statement that Matba Rofex must ensure that the payment services providers are registered with the central bank of Argentina. It is one of the measures the regulator is taking to protect investors from fraud.

Matba Rofex has warned investors about the risks involved in trading the new Bitcoin futures contract. One of the risks is the fluctuation in the prices of Bitcoin which can result in financial losses. Additionally, the trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term explained that the CNV does not control the activities of the payment services providers offering the contract.

Argentina Softens Stance on Crypto

Argentina has attracted major cryptocurrency companies offering digital currencies to users in the region who are currently facing a high inflation rate. Finance Magnates reported in April that Binance, the largest cryptocurrency exchange by trading volume, was expanding its services in the country.

Currently, Binance allows users in Argentina to purchase and sell cryptocurrencies using pesos. The service is accessible through one of the exchange's financial partners. Initially, Binance allowed peer-to-peer cryptocurrency transactions.

However, Argentina is yet to allow regulated financial institutions, including banks, to offer cryptocurrency services in the country. Last year, the country's central bank warned financial institutions that they could not offer digital asset services. The warning was issued after two banks confirmed that they were facilitating such transactions.