#CryptoCorner: CME Increases Spot-Monthly BTC Futures, CF Benchmarks Recognized by EU Benchmarks Regulation, tZero (NASDAQ: $OSTK) Partners with BLOQ FLIX
Point Roberts, WA and Delta, BC - September 13, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.
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#CryptoCorner: CME Increases Spot-Monthly BTC Futures, CF Benchmarks Recognized by EU Benchmarks Regulation, tZero Partners with BLOQ FLIX
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Stocks discussed: (NasdaqGM:OSTK) (NasdaqGS:FB)
The Chicago Mercantile Exchange (CME Group) has announced an increase in its spot-month limit of bitcoin futures trading in a letter to the Commodity Futures Trading Commission (CFTC) yesterday. Specifically, the group has upped the spot-month limit from 1,000 net futures equivalents to 2,000, which represents a quantity of 10,000 bitcoin (BTC).
CoinDesk reports that CF Benchmarks, which provides the indices used by CME Group for its bitcoin futures contract, has been recognized as a Benchmark Administrator under the European Benchmarks Regulation (EU BMR). The crypto index provider was authorized by the U.K.'s Financial Conduct Authority (FCA) today. Sui Chung, CEO of CF Benchmarks, told CoinDesk:
"Here in Europe the use of indices and provision of indices is regulated, so for all regulated firms in Europe if they use a benchmark then they have to make sure that it comes from a regulated benchmark provider. They're all captured, all in scope of regulatory requirements, and this will come into full force in January 2020."
Blockchain tech firm tZero, Inc., a subsidiary of Overstock.com, Inc. (NasdaqGM:OSTK), has partnered with blockchain entertainment financing company, BLOQ FLIX, LLC. According to the press release, "BLOQ FLIX is a media finance and advisory firm that provides mini-major studio producers and independent producers with comprehensive financing solutions to fund the production of feature films, television programming and digital/online content". tZERO CEO Saum Noursalehi commented:
"We are thrilled to partner with the BLOQ FLIX team to bring a secure and innovative investment alternative to film financing. Our continued goal is to tokenize and trade assets that can benefit from blockchain technology, and digitizing film financing fits this model nicely."
Reuters reports that politicians and bankers in the Eurozone are planning their own public digital currency to make projects like Facebook's (NasdaqGS:FB) Libra unnecessary. Libra served as a wake-up call, according to the report, and encouraged European Central Bank (ECB) officials to revive the idea of an ECB-backed project for real-time payments in the eurozone, known as TIPS. The report says that TIPS would "allow consumers to use electronic cash, which would be directly deposited at the ECB, without need for bank accounts, financial intermediaries or clearing counterparties".
North Korea plans to hold a second crypto and blockchain conference in its capital city Pyongyang in February 2020. According to the event's official website:
The interest of participants to continue building bridges of friendship and collaboration with the DPR of Korea, as well as the exclusive environment of confidentiality and contacts with the highest government officials and engineers, demanded to organize a second conference with even more audience and wider scope.
Sam Mowers, Investorideas
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