The chief executive of the owner of the New York Stock Exchange (NYSE), Intercontinental Exchange Inc (ICE), has discussed the company’s decision not to launch bitcoin futures markets. Jeff Sprecher of ICE described the opacity of the bitcoin markets as a driving factor behind the company’s decision.
Also Read: Heading into Sunday’s Bitcoin Futures, Big Banks Refuse Customers Access
Mr. Sprecher conceded that “We may be stupid for not being first” to launch bitcoin futures, but reaffirmed the company’s wary position regarding cryptocurrencies. “To short that would mean that they have decided to exit and through a legitimate, high-standing, regulated venue, they are exiting, and I look at that and just say, is that going to work out well for me as a venue?”
The regulatory reaction to bitcoin futures markets has been mixed. On December 5th, South Korea’s Financial Services Commission announced a ban on bitcoin futures. The Commodity Futures Trading Commission recently described bitcoin futures as “a unique animal unlike any commodity we’ve looked at before” in an interview that emphasized the institution’s concerns regarding the potential for futures contracts to be used a means vehicle for price manipulation in the bitcoin markets.
Do you think it is a mistake for the NYSE not to launch bitcoin futures contracts? Share your thoughts in the comments section below!
Images courtesy of Shutterstock, Intercontinental Exchange Inc.
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The post NYSE Owner on Bitcoin Futures: “We May Be Stupid for Not Being First” appeared first on Bitcoin News.
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