Bitcoin futures on the rise after ‘Black Friday’ closing
Bitcoin futures have surged following a ‘Black Monday’ shutdown of bitcoin trading on exchanges and online retailers.
The rise came after regulators said they would take steps to ease regulation and curb the flow of capital from bitcoin and other digital currencies.
The move comes as the futures market has been under pressure from the global financial crisis.
The futures markets, which offer investors a way to bet on the price of the cryptocurrency, surged more than 7% after the shutdown, according to data from CBOE, the futures arm of the world’s largest financial market.
The jump comes as regulators in China, Europe, and Japan have begun cracking down on the trading of digital currencies, with some countries banning bitcoin-related transactions.
The U.S. Securities and Exchange Commission said it would require exchanges and retailers to register with the agency.
The new regulations also include restrictions on bitcoin trading.
Futures trading companies also said they were increasing their focus on trading in physical commodities such as gold and silver.
Some bitcoin traders said they had already begun to take advantage of the move.
The cryptocurrency surged more this week than it did in the past, rising more than 10% on Thursday, according.
Reuters/Kevin LamarqueTopics:business-economics-and-finance,money-and,stockmarket,markets,cryptocurrency,world-politics,united-statesFirst posted January 03, 2020 13:27:18Contact Peter Stenson at [email protected]