The world’s biggest banks want to block bitcoin futures launch

[bambam]

    Bitcoin futures are set to be introduced by CBOE Global Markets and the CME
    The Futures Industry Association says there has not been enough scrutiny of the product
    Concern exists that clearing houses, funded by banks, may take on too much risk


Wall Street banks have raised objections to the introduction of bitcoin futures trading, highlighting fears that the financial system can't cope with the cryptocurrency's volatile price swings.

The U.K.'s Financial Times has reported that a letter from the Futures Industry Association, which counts the world's biggest banks among its members, is to be sent Thursday to the Commodity Futures Trading Commission in the U.S.

The letter reportedly criticizes the introduction of bitcoin futures and states that the Chicago exchanges, CME Group and CBOE Global Markets, should not be allowed to launch bitcoin futures under a self-certifying regime.

The FT reported that a draft version seen by the newspaper said proposed rules for bitcoin futures trading do "not align with potential risks that underlie their trading."


https://www.cnbc.com/2017/12/07/bitcoin-futures-push-back-by-wall-street-banks.html

[Cordillerabit]

Lets see whats the final move of CME (Self Certified Regime) group i read a news from wall street banks that they will launch their version on December 17   for thier upcoming contract meaning regulators had minimal time to review them formally.