Mark Cuban: Bitcoin Futures Approval Will be ‘Generally Positive’

Billionaire investor and entrepreneur Mark Cuban has said that the approval of the bitcoin futures on major exchanges will be ‘generally positive’ for the digital currency.

The Chicago Mercantile Exchange (CME) Group and the Chicago Board Options Exchange (CBOE) have both received approval from the U.S. Commodities Futures Trading Commission (CFTC) to list bitcoin futures contracts on its trading platform.

CBOE is expected to start trading bitcoin futures on the 10th December, whereas, CME is to begin its trading on the 18th.

It is because of this that Cuban believes it will be a positive step for bitcoin and where it’s heading, reports Bloomberg.

“It will be interesting. I think it’s generally positive,” he said. “What they charge is critical. Transaction costs are relatively high for BTC. If this pushes transaction costs lower, it will be a benefit to the BTC market.”

The CME Group contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR), which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. It uses prices from exchanges Kraken, GDAX, Bitstamp, and itBit. CBOE will also be cash settled and based on the Gemini exchange…

Read Full: Mark Cuban: Bitcoin Futures Approval Will be ‘Generally Positive’