The maturation of the digital-currency market is not smooth sailing and that is considering several challenges that have been popping up from time to time. There was recently a confrontation between regulators and proponents rolls on, a matter that has sparked divergent views among the persons following on the matter.
The president and COO of Cboe Global Markets Chris Concannon recently send out an open letter to the Securities and Exchange Commission. He was presenting a case for a bitcoin exchange-traded products and one thing that came out clearly was the fact that he wanted the data he unveiled to serve as proof for whatever was happening at the moment.
Much talk has been going on lately with some people taking a strong stand that there is need to alleviate concerns that most of the regulators showcase in line with product in question.
Concannon disclosed that it was indeed true Cboe identified with most of the issues that were raised in the team letter adding that there was a prevailing feeling that the fears could easily be addressed in the current framework for the commodity-linked resources similar to manipulation, arbitrage, custody, liquidity and valuation as well.
SEC director Dalia Blass had some time back made the revelation that the body had given its perspective in relation to the matter outlining that the item lacked transparency. It goes without saying that the issues that were raised aren’t to be joked with. They are serious matters that need to be resolved in a satisfactory manner.
In the open letter, Cboe was launching claims that among the other items, it hoped that the bitcoin futures volumes would eventually turn out as being comparable to that of other commodity futures goods and the dynamics seem to be shifting pretty fast.
Cboe’s entrance into the ecosystem has come with its own challenges and merits in equal measure. It will be remembered that it was almost at the same time that bitcoin proceeded to give up a fraction of its value eventually experiencing a staggering drop of about 36 percent in spot price.