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Bitcoin Futures Index Emitter for CME Granted First Crypto Benchmarks Regulation License in Europe

  • Yuri Molchan
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    CF Benchmarks now is the first crypto index provider platform granted recognition as a Benchmark Administrator as part of Benchmarks Regulation in the EU

Bitcoin Futures Index Emitter for CME Granted First Crypto Benchmarks Regulation License in Europe
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Contents

As reported by CoinDesk, the British regulator FCA has granted CF Benchmarks a status of an administrator, today, on Friday 13 September. After the European Benchmark Regulation (EU BMR) comes into effect at the start of 2020, crypto trading and investment companies will be able to take advantage of CF Benchmark’s indexes while working with any financial products on the EU market.

Crypto companies can now tap into the EU market

CF Benchmarks is famous for working with the Chicago-based CME exchange (one of the first ones to launch Bitcoin futures in December 2017, along with CBOE) and providing indexes for the BTC-futures for them.

The CEO of the CF Benchmarks, Sui Chung, said in an interview that this event will now allow crypto companies from around the world to work in the European financial market.

As per Chung, benchmarks used by financial firms in the EU are under a heavy regulation and banks, along with asset management companies utilize quite a lot of indices for their operations.

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Brexit on the horizon

He also said that all those regulatory rules will take effect in early January 2020. As an example, he said that any fund seeking to launch an ETF, which tracks a certain cryptocurrency index, would have to track a regulated index as well.

Chung also stated that the license received by CF Benchmarks would remain valid even if Brexit takes place and the UK and Europe are no longer one economic space.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Nationwide Blockchain of China Finally Preparing for Launch

  •  Denis Sinyavskiy
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    China launching nationwide blockchain service in beta mode until March 2020. It must push forward digital economy and smart cities

Nationwide Blockchain of China Finally Preparing for Launch
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China continues to take steps toward the digital economy and smart cities by officially releasing a nationwide blockchain service network, XINHUANET says.

Blockchain service network expectations

UnionPay, State Information Center (SIC), China Mobile and three other organizations worked on a system that will help China lead the blockchain technology market. Blockchain beta testing has already been announced and will last until March 2020, and all content and services will be available for free till that date.

BSN is expected to accelerate the development of digital technology and smart cities, as well as foster the development of new technology and industries.

What about CBDC?

Earlier, U.Today reported, that China has come close to creating its own cryptocurrency and may even launch it this fall, but then there was information that the national digital currency will appear later.

But China will not become the first country to introduce a national cryptocurrency. The Kingdom of Bhutan has already done it this month, as we already reported.

So, what do you think? Does the launch of China's national blockchain mean that the country will become a leader? Write what you think about this in the comments section!

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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