Home / Today Tech / Hong Kong Traders Prefer Regulated US Markets for Bitcoin Futures

Hong Kong Traders Prefer Regulated US Markets for Bitcoin Futures

Adam James · February 12, 2018 · 6:30 pm

Bitcoin futures buyers in Hong Kong are turning away from the independent territory’s unregulated cryptocurrency exchanges, flocking in its place to regulated US markets. Safety First December observed the discharge of Bitcoin futures on every the CBOE and CME. Since then, shopping for and promoting amount has ceaselessly greater as buyers in Hong Kong flip their backs on their a lot much less secure dwelling exchanges in want of regulated US markets. TD Ameritrade CEO Gary Leung claims his is one such firm

Read More

End Excerpt –>

Bitcoin futures buyers in Hong Kong are turning away from the independent territory’s unregulated cryptocurrency exchanges, flocking in its place to regulated US markets.


Safety First

December observed the discharge of Bitcoin futures on every the CBOE and CME. Since then, shopping for and promoting amount has ceaselessly greater as buyers in Hong Kong flip their backs on their a lot much less secure dwelling exchanges in want of regulated US markets.

TD Ameritrade CEO Gary Leung claims his is one such firm experiencing greater pastime in Bitcoin futures coming out of Hong Kong, explaining to the South China Morning Post:

We have gained a lot of inquiries about Bitcoin futures since we started working in Hong Kong final October, when the prices had been surging.

TD Ameritrade

This newfound pastime in American exchanges for Bitcoin futures stems largely from the reality that the Hong Kong Monetary Authority views the cryptocurrency as a commodity, and thus does no longer keep watch over it.

Benny Mau, managing director at China Securities International Finance Holdings, outlined to the South China Morning Post:

Bitcoin and completely different digital currencies are primarily no longer regulated in Hong Kong because of they’re traded like commodities. If the digital international cash platforms have a difficulty or are hacked, the consumers might endure losses for the reason that regulators might no longer do the remaining for them. This has discouraged many Hong Kong consumers from shopping for and promoting digital currencies in Hong Kong.

Instead, Hong Kong consumers having a look to take advantage of safe trades conceivable are utilizing US exchanges, since “investors do not need to think about the counterparty risk or worry about the platforms having a problem.”

CBOE Announces Increased Bitcoin Futures Margins Amid Market Manipulation Worries

According to Gary Cheung, chairman of the Hong Kong Stockbrokers Association, Bitcoin futures shopping for and promoting throughout the US isn’t restricted to a particular subset of Hong Kong buyers. Rather, there are two kinds of Hong Kong consumers who business Bitcoin futures in America:

There are bitcoin miners and completely different consumers who business bitcoin and wish to make use of the futures merchandise to hedge. The others are customary futures consumers who purely must take profit created by the use of speculative futures shopping for and promoting.

Both kinds of consumers have thus far made it abundantly clear — when it comes to investing in Bitcoin futures, laws is observed as significantly further sexy than unregulated markets.

What are your concepts on Bitcoin futures shopping for and promoting on American markets? Let us know throughout the suggestions beneath!


Images courtesy of Bitcoinist archives.

bitcoinBitcoin futuresCBOECMEhong kongHong Kong Monetary AuthorityTD Ameritrade Show suggestions

This article was first and to start with printed at following website – Source link . All the content material materials and copyrights belong to their distinctive authors.


Source link

About todaytechlife

Check Also

Multi-Million Dollar Properties Are Selling for Bitcoin in San Diego

Adam James · February 16, 2018 · 4:00 pm Since getting crypto rich has grow …

Leave a Reply

Your email address will not be published. Required fields are marked *

Powered by keepvid themefull earn money

%d bloggers like this: