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FTX irks exchanges by pushing for crypto derivatives
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fnlondon.comThe cryptocurrency exchange FTX is seeking a green light from regulators to let individual investors use derivatives to place leveraged bets on bitcoin, a move opposed by rivals.
Traditional exchanges and financial-industry groups say FTX’s proposal might endanger market stability. Their concerns centre on a key element of the plan, under which investors could deal directly with FTX instead of going through a broker. This approach represents a change from the way derivatives markets have operated for decades.
“The...
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