Terry Duffy, the CME Group chair, and CEO have confirmed that cryptocurrency futures could start trading as early as December. This is likely to affect how Bitcoin casino fairs in months to come.
According to the CEO, he put all plans in place. This will have a profound effect on the way bitcoin will trade in the future. Duffy said this at a time the digital currency is recording high values in the international market.
“I believe that this is not going to take long. In my view, it’ll be in the second week of December or thereabouts. You’re going to see our contract out for listing,” Duffy said.
CME hinted as early as October that it had a product that it was going to release. Since the announcement, there have been many speculations about the time to release the product.
But with the latest confirmation from the CEO, it is better than those who’ve been waiting for the approval to anticipate for good.
The company did not give much information. At that time, all the company said was it was going to try to release a bitcoin-related product. However, there was also the mention of using the existing price index.
Remember that the price index listing came on the scene in 2016. With only a year down, expect the bitcoin casino industry will benefit. But it is also good to mention that payments will be in cash.
During an interview with one of the papers, Duffy mentioned many things. Among the things the CEO mentioned were practical strategies for handling Bitcoin price fluctuations.
The CEO said that on their part, they would be prompted to halt the transaction in case there will be ‘significant’ price swings. He said that we would take necessary stun measures in the event of major challenges.
“In case there would be a ‘catastrophic price decline,’ we’ll call upon the application of existing rules. It is useless that we have rules they don’t use even when they are supposed to be applied to halt major problems,” the CEO said.
Duffy said that it is pointless for responsible stakeholders to sit and watch in case the price goes down. He warned that on his part, there is no day the price will go down to zero.
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“Listen, when someone comes to me asking, ‘what are you going to do now that the price has gone down to zero?’ My answer to that person is simple: I’m not going to let it go down that path. It won’t go down to zero,” Duffy maintained.
The CEO retaliated that there are not going to sit on the fence as prices dwindle. He argued that it is useless that people have the powers and mechanisms that they don’t use.
Will The Online Casino Gambling Industry Benefit From Bitcoin Future Trading?
He quickly pointed out that his company is on the verge of implementing something strong. The product will bring to the end the price fluctuation tendency. That will also bring to life the bitcoin casino industry that has faced fierce criticism from various sectors in recent days.
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