Giancarlo: crypto-currency futures do not need new rules

CFTC chair says US regulators can oversee products using existing powers

Electronic currency
Breaking through: US derivatives exchanges have moved to benefit from crypto-currencies' growth

New regulation is not needed to oversee the bitcoin derivatives market, according to Christopher Giancarlo, chairman of the Commodity Futures Trading Commission. Two Chicago-based exchanges – CME and CBOE – have announced plans to launch cash-settled contracts by the end of the year.

Some experts have suggested crypto-currencies and related derivatives products need distinct regulation, but Giancarlo says the CFTC and its fellow US markets regulator already have the powers they need.

“In the

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