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© Reuters. Investing.com – Cryptocurrency prices rose on Monday in Asia as a result of reports that CoinFLEX based in the UK will offer future contracts for Bitcoin and other digital currencies.
rose 5.34% to $ 4.002.9 and rose 2.11% to $ 152.68 at 1: 30 ET (06:30 GMT).
rose 2.56% to $ 0.36116, while it rose 8.53% to $ 37.73.
A British Bitcoin exchange called Coin Futures and Lending Exchange (CoinFLEX) will offer futures contracts for Bitcoin, and Ethereum which can go up to 20 times, according to Bloomberg.
What sets it apart from other digital currency exchanges is that futures traded in CoinFLEX will be physically delivered, so owners will be offered the underlying virtual currency instead of a cash payment, the report says.
"Cryptographic derivatives could become an order or magnitude greater than the spot markets and the main thing that would curb such growth is the lack of physical delivery.The volumes are reduced due to a problem of trust when it comes to transactions settled in cash, "said Mark Lamb, CEO of CoinFLEX, in Bloomberg.
Lamb added that the daily trading volume on the market is about $ 3 million and that there is ample room for the growth of contracts related to digital resources.
The market has also seen a push for cryptocurrency regulations. Gemini Trust Co., a digital token exchange founded by the Winklevoss brothers, has stated in a new advertising campaign that cryptos should adopt best practices and follow regulations, according to the Wall Street Journal.
"We believe that investors entering cryptocurrency deserve the same identical investor protection in more traditional markets, adhering to the same standards, practices, regulations and compliance protocols," said Chris Roan, Gemini's marketing manager.
Elsewhere, five cryptocurrency grants have joined the Japan Currency Currency Exchange Association, which seeks to follow investor security standards. The country's financial controller officially offered the self-regulation status of the organization in October of last year to verify the sector.
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