argentinas securities regulator the national commission of value cnv approved the regulation of bitcoin btcusd index futures contracts on the matba rofex exchange what happened the futures contracts allow investors to gain exposure to bitcoins price without having to own the underlying asset they will be traded and settled in argentine pesos the move is part of the cnvs strategic innovation agenda which aims to adapt to the challenges posed by new technologies in the provision of financial products it also seeks to promote the development of novel and innovative products by regulated entities in the capital market the bitcoin index will be based on the price of bitcoin provided by different price providers and entities that facilitate the btcars pair operation deposits will be made in argentine pesos through bank transfers it is important to note the cnv has no regulatory authority or control over these providers see also unstoppable bitcoin reigns supreme with incredible inflows dominating altcoins like uniswap polkadot polygon matba rofex sa is required to ensure that they have a valid contract with a payment services provider psp registered with the central bank of the argentine republic bcra for the provision and use of their payment services in the country qualified investors will be able to access bitcoins price fluctuations safely and transparently through derivatives products traded on regulated market infrastructures this will create new opportunities for investors to manage risk and diversify their portfolios to ensure that investors understand the risks associated with these products matba rofex sa will incorporate alerts that warn investors about the risks associated with these operations and possible contingencies in the formation of the instrument why it matters this initiative is part of the innovation hub launched by the cnv a year ago which is a publicprivate collaboration space designed to promote exchanges with regulated companies and entities with technology projects for financial products and services in the capital market the cnvs approval of bitcoin index futures contracts is a positive development for argentinas capital market it demonstrates the regulators willingness to adapt to the changing financial landscape and promote innovative products for regulated entities read next dogecoin cocreator reveals his bitcoin holding as apex crypto hits 10month high this content was partially edited with the help of ai tools and was reviewed and published by benzinga editors