TechFlow reported on January 9 that, according to The Block, the Market Oversight Division and Clearing Risk Division of the U.S. Commodity Futures Trading Commission (CFTC) issued a no-action letter to cryptocurrency exchange Bitnomial, allowing it to offer event-based contracts.
Bitnomial plans to launch "binary and bounded swap contracts referencing digital assets, economic indicators, and financial outcomes," which will be "fully collateralized." Under CFTC requirements, Bitnomial must comply with specific conditions, including publishing sales data as well as meeting certain recordkeeping and reporting obligations.
In December last year, Bitnomial became the first exchange approved to list regulated spot cryptocurrency products.
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