The government has built a regulatory framework for clearing and settlement alongside CoinDesk's parent, crypto exchange Bullish.
The Gibraltar government said it is establishing the world's first regulatory framework for clearing and settling of crypto derivatives. The rules were developed in conjunction with crypto exchange Bullish, CoinDesk's parent company, which said they allow virtual asset derivative contracts to be handled a recognized clearing house.
The Gibraltar government said it plans to establish the world's first rules for the clearing and settlement of crypto derivatives, creating a regulatory framework to improve market integrity and reduce key risks. Working with the Gibraltar Financial Services Commission and crypto exchange Bullish , the government has built a framework over the past six months that tailors traditional financial clearing regulations to the virtual asset market. Clearing houses ensure that trades are finalized, with buyers and sellers meeting their commitments. Many virtual asset exchanges have been performing that function which, in the absence of regulatory oversight, can lead to failures in the process, Bullish said.Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Full Breakdown of Angels' Benches-Clearing Incident, With One Big SurpriseLast week's brawl between the Detroit Tigers and the Los Angeles Angels has an interesting twist to it.
Read more »
Crypto-Friendly GENIUS Act Fails Key Senate Vote as Dems DefectThe bill to establish regulations for stablecoins likely isn't dead yet.
Read more »
Anker Is Clearing Out Its Prime USB-C Charger at a Near-Free Price on AmazonThis compact Anker Powerhouse for charging multiple devices is for under $60.
Read more »
Galaxy Digital approved for US domicile, clearing way for Nasdaq listingCrypto investment company Galaxy Digital moves closer to its Nasdaq listing after the United States SEC approved an S-4 registration form.
Read more »
This 128GB Micro SDXC Memory Card Is Dirt Cheap, Amazon Is Clearing Out Stock FastThis 128GB microSD card is now incredibly affordable on Amazon.
Read more »
Shia LaBeouf says Timothée Chalamet 'is doing better work than anyone alive,' clearing up beef rumorsAfter recently comparing himself to Timothée Chalamet and his pursuit of greatness, Shia LaBeouf insists there's no beef between them: 'We been good.'
Read more »