China prepares to open bond futures market to domestic banks; CBOE FX adds tool to enhance liquidity

China prepares to open bond futures market to domestic banks; CBOE FX adds tool to enhance liquidity

A daily aggregation of financial news regarding regulation, market participants, market structure, and trends in the derivatives industry.

Did an April Fools joke cause bitcoin to breach $5K?

Did an April Fools joke cause bitcoin to breach $5K?

At one point in the 2013 comedy “The Wolf of Wall Street,” Matthew McConaughey’s character Mark Hanna – a slick, coke-snorting stockbroker – tells Leonardo DiCaprio’s character, “Nobody – I don’t care if you’re Warren Buffett or Jimmy Buffett – nobody knows if the stock is going to go up, down, sideways or in circles.” While many in the financial services world might disagree, we can probably all agree that this accurately describes the current crypto market. Just replace “the stock” in that sentence with “bitcoin.”

Ex-CFTC chairman calls for SEC to regulate cryptocurrencies

Ex-CFTC chairman calls for SEC to regulate cryptocurrencies

Economic Studies at Brookings yesterday dropped a call for better regulation of the cryptocurrency and digital assets industries by none other than Tim Massad, the former chairman of the CFTC. As befits the former head of an agency that embraced principles-based regulation, Massad’s paper is long on analysis of the industries and the regulatory issues that seem to afflict business conditions.

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