๐ A new US crypto derivatives exchange just got CFTC approvalโwith zero leverage allowed...
#tZEROWinsCFTCApprovalForRegulatedDerivativesExchange On November 10, the CFTC approved tZERO to operate a regulated US derivatives exchange, pairing with the clearinghouse license it won back in October. On paper, it now has the green light to run both sides of a regulated derivatives market.
Here is the catch most headlines are skipping over, though.
Under tZEROโs approved rulebook, every single trade must be 100% fully collateralizedโand US dollars are the only collateral accepted.
That means no 50x leverage, and no using your BTC or USDT as margin like you can on offshore crypto exchanges. On top of that, holding an exchange license doesn't let them list live Bitcoin perpetuals tomorrow. Every individual contract still has to clear a separate CFTC product-review process first.
My take:
Wall Street is building a safer, regulated derivatives laneโbut stripping out leverage and crypto margin kills the exact capital efficiency that makes crypto perpetuals popular in the first place. Real liquidity won't move here overnight.
What to watch:
This gives US institutions a compliant on-ramp, though it won't create immediate spot buying pressure for BTC or ETH until actual contracts go live and attract real volume.
Would you ever trade 1x USD-only regulated contracts, or are offshore crypto perps unbeatable? Drop your take below.
Not financial advice.
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