Exchanges will need to share data with CFTC
The CFTC wants more disclosure on trades and prices before it sanctions Bitcoin futures trading.
Finance Magnates reports that the CFTC wants the unregulated exchanges where Bitcoin is traded to enter into data sharing agreements with futures exchanges to prevent market manipulation.
The CME Bitcoin futures contract, which is slated for a Dec 18 launch, is based on prices at various exchanges.
"Over the past weeks, the CFTC has held discussions with the CME, CBOE and Cantor Exchange over their bitcoin futures and binary options plans. The parties agreed to significant enhancements to contract design and settlement procedures," Finance Magnates reports.
The CFTC is also asking for higher margin requirements.
