In a bid to boost the capital market and create innovative products, Argentina's securities regulator, the National Commission Of Value (CNV) has approved the launch of a Bitcoin (BTC) futures index on the Matba Rofex exchange. The Bitcoin futures contract, set to debut in May, will be the first regulated Bitcoin contract in Latin America.

The Bitcoin futures index is based on the price of BTC provided by entities offering BTC/ARS trading pairs. All trades will be settled in the Argentine pesos and traders will be required to make bank transfers to deposit the currency. The CNV has mandated the Matba Rofex exchange to ensure that it is in contractual agreement with a Payment Services Provider (PSP) that is registered with the Central Bank of the Argentine Republic (BCRA).

The regulated Bitcoin futures index provides qualified investors a way to gain Bitcoin exposure in a transparent and regulated setting while offering the assurance of safety. Additionally, CNV has requested Matba Rofex Exchange to incorporate alerts warning investors of the associated risks with such financial instruments. The launch of the Bitcoin futures has come at a time when Argentina is experiencing huge levels of inflation.

In a bid to bring relief to its citizens, the Ministry of Economy introduced a bill that encouraged people to declare their cryptocurrency holdings with the provision of tax incentives. This move had accelerated the country's pro-crypto stance and saw cryptocurrency adoption skyrocketing at nearly double the rate of its neighbouring countries. Launching the Bitcoin futures contract within a week of the Binance expansion to Argentina added further support to the increased crypto adoption.



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