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Banks serving bitcoin futures may downgrade

The growth of trading in bitcoins futures causes concern regulators.

17.Jun.18 9:59 PM
By Jeff Bannister


Banks serving bitcoin futures may downgrade
Maintenance of bitcoin futures may lower the ratings of banks. This can happen with an increase in the volume of trades in bitcoin futures. The portal reported this. Three rating agencies Fitch, Moody's and Standard and Poor's expressed concern about bitcoin futures on the US CBOE and CME platforms.

The fact is that since the release of the first futures for bitcoin, the volume of trading has continuously grown and now it can reach $ 670 million for one trading session. This indicator demonstrated the potential of the Cryptocurrency as a new type of digital asset. However, at the same time, banks are taking on additional credit risks.

According to specialist Nathan Flanders of Fitch, bitcoin futures did not cause problems at low trading volumes. However, the impact of crypto-currencies on the banking sector is growing, and institutions were providing clearing services risk going bankrupt. Therefore, rating agencies have the right to lower their credit ratings. This step can create difficulties with financing.

At the same time, the exchanges intend to expand the portfolio of crypto-currency products and even take concrete steps in this direction. So CME wants to start trading futures for Ethereum.

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