Published On: Mon, Feb 12th, 2018

Hong Kong Traders Prefer Regulated US Markets for Bitcoin Futures

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Bitcoin futures traders in Hong Kong are turning away from the autonomous territory’s unregulated cryptocurrency exchanges, flocking instead to regulated US markets.
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December saw the launch of Bitcoin futures on both the CBOE and CME. Since then, trading volume has steadily increased as traders in Hong Kong turn their backs on their less secure domestic exchanges in favor of regulated US markets.
TD Ameritrade CEO Gary Leung claims his is one such firm experiencing increased interest in Bitcoin futures coming out of Hong Kong, explaining to the South China Morning Post:
We have received a lot of inquiries about Bitcoin futures since we started operating in Hong Kong last October, when the prices were surging.

This newfound interest in American exchanges for Bitcoin futures stems largely from the fact that the Hong Kong Monetary Authority views the cryptocurrency as a commodity, and thus does not regulate it.
Benny Mau, managing director at China Securities International Finance Holdings, explained to the South China Morning Post:
Bitcoin and other digital currencies are basically not regulated in Hong Kong because they are traded like commodities. If the digital currency platforms have a problem or are hacked, the investors may …

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