Bitcoin Goes Legal in Argentina: Securities Regulator Approves BTC Index Futures Contracts on Rofex Exchange
Argentina’s securities regulator, the National Commission Of Value (CNV), approved the regulation of Bitcoin BTC/USD index futures contracts on the Matba Rofex exchange.
What happened: The futures contracts allow investors to gain exposure to Bitcoin’s price without having to own the underlying asset. They will be traded and settled in Argentine pesos.
The move is part of CNV’s strategic innovation agenda, which aims to adapt to the challenges of new technologies for the delivery of financial products. It also seeks to promote the development of new and innovative products by regulated entities in the capital market.
The Bitcoin Index will be based on the price of Bitcoin provided by various price providers and entities that facilitate the BTC/ARS pair operation. Deposits will be made in Argentine pesos through bank transfers. It is important to note that CNV has no regulatory authority or control over these suppliers.
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Matba Rofex SA is required to ensure that they have a valid contract with a Payment Service Provider (PSP) registered with the Central Bank of Argentina (BCRA) for the provision and use of their payment services in the country.
Qualified investors will be able to access Bitcoin’s price fluctuations safely and transparently through derivative products traded on regulated market infrastructures. This will create new opportunities for investors to manage risk and diversify their portfolios.
To ensure that investors understand the risks associated with these products, Matba Rofex SA will incorporate notices warning investors of the risks associated with these operations and possible contingencies in the formation of the instrument.
Why it matters: This initiative is part of the Innovation Hub launched by CNV a year ago, which is a public-private collaboration space designed to promote exchanges with regulated companies and entities with technology projects for financial products and services in the capital market.
CNV’s approval of Bitcoin index futures contracts is a positive development for Argentina’s capital market. It demonstrates the regulator’s willingness to adapt to the changing economic landscape and promote innovative products for regulated entities.
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This content was partially edited using AI tools and was reviewed and published by Benzinga editors.
