Gibraltar to Establish Regulatory Framework for Crypto Derivatives

According to Foresight News, Gibraltar's government has announced plans to create a regulatory framework for the clearing and settlement of cryptocurrency derivatives. This initiative aims to enhance the integrity of the virtual asset market and reduce trading risks. The framework is being developed in collaboration with the Gibraltar Financial Services Commission (GFSC) and the cryptocurrency exchange Bullish, which is a subsidiary of CoinDesk. The development process is expected to take six months and will involve adapting traditional financial clearing rules to the cryptocurrency market. The new regulations will allow virtual asset derivative contracts to be processed through regulated clearinghouses. This move is intended to improve trading transparency and capitalization levels while reducing counterparty risk.