The financial markets regulator of Argentina has granted approval for the first itcoin">Bitcoin futures contract offering in Latin America. The Comisión Nacional de Valores (National Securities Commission or CNV) officially announced that it has authorized the trading of futures contracts on the Matba Rofex itcoin">Bitcoin Index. The CNV has clearly stated that the negotiation and settlement of contracts will be conducted in Argentine pesos, with access only being granted to institutional or professional investors.
The Regulator wrote:
“The measure […] aims to adapt to the regulatory challenges imposed by new technologies for the provision of financial products.”
But it also noted:
“[The measure also aims] to encourage the development of new, innovative products […] in the capital market. This way, qualified investors will be able to gain exposure to itcoin">Bitcoin price variations in a safe and transparent manner. And they will be able to do so through derivative products traded within regulated market infrastructures.”
The CNV has emphasized that Matba Rofex should include cautionary statements and disclaimers that clearly outline the potential risks that come with investing in itcoin">Bitcoin. This is essential to inform potential investors about the possible risks associated with their investment.
The CNV declared that the Innovation Hub, launched by the regulator in 2022, was responsible for the successful “initiative” that they had achieved. The hub was meant to facilitate public-private collaboration and encourage exchange between regulated companies and firms in the technology and capital market financial product sectors.
Argentina has seen a surge in crypto adoption, with the finance ministry unveiling a draft law earlier this year that would require citizens to declare their crypto holdings or face tax-related penalties.
Furthermore, companies reported that more citizens had opted for crypto payments over fiat currency in January.
