Cryptocurrency exchange Bullish has announced a partnership with the Gibraltar Government and the Gibraltar Financial Services Commission (GFSC) to develop the world’s first regulatory framework for the clearing and settlement of derivative contracts settled in virtual assets. This initiative aims to enable crypto derivative contracts to be cleared and settled in virtual assets by a recognized clearing house. Over the past six months, Bullish and the GFSC have collaborated to create a framework that adapts traditional finance clearing regulations to the unique needs of the crypto market. Tom Farley, CEO of Bullish, emphasized the importance of this framework in managing risks associated with virtual asset trading, while Gibraltar’s Minister for Financial Services, Nigel Feetham, highlighted the jurisdiction’s commitment to pioneering clear regulation.

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