Argentina approved BTC index futures contracts on the Matba Rofex exchange: report

Argentina approved BTC index futures contracts on the Matba Rofex exchange: report
reported that the Argentine security supervisory authority-the National Commission of Value (CNV)-the Local Stock Exchange Matba Rofex authorized, regulated Bitcoin index futures contracts.
The Argentine recently showed an increasing interest in primary cryptocurrency and other digital assets. A factor for increasing appetite could be the worrying inflation rate in the country and political instability.
Additional BTC options for the locals
The BTC Index Futures Contracts Span> enable to be exposed to the price of the primary cryptopical theater without the asset to have to. Payments are made in Argentine pesos - the official state currency - by bank transfer.
Approval by the CNV is part of a broad strategy for the introduction of new technologies and to promote a variety of money products in the population.
The domestic stock exchange Matba Rofex must have a valid agreement with a payment service provider (PSP) registered with the Argentine central bank in order to conclude such contracts. His president-Andres Ponte-praised the company to be the first in Latin America that offers regulated BTC futures.
The platform also warns investors of the possible risks in dealing with the investment class due to their notorious volatility.
cryptocurrencies have recently become increasingly popular in the South American country. The political chaos and currency problems could be a reason for this interest.
as cryptopotato Last summer, numerous local crypto exchanges, including Binance and Lemon Cash, informed that the costs for the purchase of Tether (USDT) with Argentinian pesos (ARS) have increased significantly. It is worth noting that this happened at a time when Martin Guzman - former Minister of Economics - resigned from his post and pointed out additional problems for the domestic economy.
The disturbing inflation
The inflation rate in Argentina is also a factor to be observed. The annual figures recently exceeded 100 %, something that has not existed since hyperinflation in 1991.
"I came recently and asked for three mandarins, two oranges, two bananas and half a kilo of tomatoes. When he told me, 650 pesos [$ 3.22] I told him that he should take everything out and only the tomatoes because I don't have enough money", an older woman named Irene described it, " Devita the situation in her homeland.
In contrast to the devaluation of the Argentine peso, Bitcoin's price has moved up in recent months. It has recently reached the milestone of $ 30,000 and has recorded an increase of 80 %since the beginning of the year.
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