Wall Street is not happy about a pending cryptocurrency futures market set to open before Christmas this year, and some of the biggest names in the sector are voicing their concerns, ramping up rhetoric by issuing grave warnings bitcoin and its kind are not welcome to their speculative party.
Wall Street Begs Regulator to Separate Cryptos
“This letter is to request the Commodity Futures Trading Commission [CFTC] require any clearing organization that wishes to clear any cryptocurrency or derivative do so in a separate clearing system isolated from other products,” wrote Interactive Brokers (IB) chairman Thomas Peterffy.
IB is among Wall Street’s derivatives and broker clearing service main providers. The letter was published 14 November 2017 as an advertisement in the legacy industry bible, Wall Street Journal…
Read Full: Wall Street Fears Bitcoin Futures Will “Destabilize the Real Economy”