The financial regulator of Singapore allowed the circulation of cryptocurrency derivatives on adjustable exchanges

Currency control of Singapore in the near future is preparing to allow cryptocurrency derivatives on adjustable exchanges. It is reported by Reuters with reference to the reference document of the regulator.

The currency department said that it observed the interest of institutional investors in trade in such payment instruments as bitcoin and Ethereum, which "needs an adjustable product for the possibility of hedging risk of tokens."

According to the document, the listing and turnover of derivatives of payment tokens can be allowed on approved exchanges in accordance with the law "On Securities and Futures".

In accordance with the current laws, payment tokens are not assets that may form the basis of regulated derivatives. However, the Singapore currency department claims that it receives requests for the inclusion of such assets in the relevant regulations, which will allow them to be listed on local trading platforms.

Currently, there are four legal exchanges in Singapore: the Asia-Pacific Exchange, Ice Futures Singapore, Singapore Derivative Exchange and Singapore Stock Exchange.

“It is noteworthy that MAS is ready to allow cryptocurrency derivatives for all four stock exchanges in the country,” said cryptocurrency analyst Dmitry Yakshev. “This will open access to cryptocurrency investments to a large number of international financial players who work at these sites, and will certainly revive insti -national investors. It is curious that the Singapore currency control considers the listing and trading derivatives the prerequisite for the regulation of cryptocurrencies. This is a direct signal for investors that this market will develop. ”