Gibraltar Plans World’s First Rules for Crypto Derivatives Clearing and Settlement
The Gibraltar government plans to introduce regulations for the clearing and settlement of crypto derivatives, aiming to enhance market integrity and mitigate risks.
- The framework is developed in collaboration with the Gibraltar Financial Services Commission (GFSC) and crypto exchange Bullish.
- It adapts traditional financial clearing regulations to the virtual asset market.
- Virtual asset derivative contracts will be cleared by a recognized clearing house.
- Clearing houses ensure trade finalization, addressing potential failures from unregulated exchanges.
- The proposed regime will enable the creation of separate clearing houses with improved transparency and capitalization.