The Commodity Futures Trading Commission (CFTC) is reviewing Super Bowl and other sports-related derivatives contracts listed on Crypto.com to determine whether they comply with legal standards.

The dominant platform for bitcoin and ether options Deribit has reportedly drawn interest from potential buyers and with the assistance of a financial adviser is reviewing its opportunities.

Thailand’s top financial authority is weighing allowing bitcoin exchange-traded funds to be listed on local exchanges as competition among Asian nations to establish themselves as digital-asset centers for the region grows.

Top stories in the Crypto Roundup today:

• CFTC Scrutinizes Crypto.com's Sports Derivatives Contracts
• Crypto Options Powerhouse Deribit Weighs Potential Sale
• Thailand Weighs Allowing Bitcoin ETFs on Local Exchanges

CFTC Scrutinizes Crypto.com's Sports Derivatives Contracts

The Commodity Futures Trading Commission (CFTC) is reviewing Super Bowl and other sports-related derivatives contracts listed on Crypto.com to determine whether they comply with legal standards.

The regulator has requested a temporary halt to trading on these contracts while a 90-day review takes place, with a potential permanent ban being imposed if the CFTC finds these are in violation of gaming prohibitions.

Crypto.com has pushed back against the suspension request, and said it’s disappointing that the CFTC didn’t refer the matter to the incoming administration. The regulator’s decision, the exchange added, contradicts recent federal court rulings.

A spokesperson for the exchange said it remains “committed to working with the CFTC and will continue to support our customers and the trading of our sports title event contracts in all 50 states without interruption while we review the CFTC’s notification.”

Crypto Options Powerhouse Deribit Weighs Potential Sale

The dominant platform for bitcoin and ether options Deribit has reportedly drawn interest from potential buyers and with the assistance of a financial adviser is reviewing its opportunities.

The firm is working with Financial Technology Partners to evaluate these opportunities, having initially brought in the adviser in early 2023 to facilitate secondary stock sales for existing investors.

Deribit’s valuation could reach $4 billion to $5 billion. Bloomberg reports that cryptocurrency exchange Kraken weighed the acquisition, but did not proceed. The potential acquisition comes at a time in which merger and acquisition activity has been growing in the space.

The exchange’s total trading volume, encompassing options, futures, and spot trading, nearly doubled last year to near $1.2 trillion. Options notional trading volumes rose 99% to $743 billion.

Thailand Weighs Allowing Bitcoin ETFs on Local Exchanges

Thailand’s top financial authority is considering allowing bitcoin exchange-traded funds to be listed on local exchanges, as competition among Asian nations to establish themselves as digital-asset centers for the region intensifies.

The Secretary General of the country’s Securities and Exchange Commission, Pornanong Budsaratragoon, said the regulator is considering allowing individuals and institutions to invest in local bitcoin ETFs.

In an interview, Pornanong said that the country has to “move along with more adoption of cryptocurrencies worldwide” and to “adapt and ensure that our investors have more options in crypto assets with proper protection.”

Binance and other exchanges have identified Thailand as a key growth market as it relaxes restrictions on the space. The SEC, according to Pornanong, will consider allowing local firms with strong credit ratings to issue new stablecoins backed by their own bonds.

State of the Crypto by Top Tier Exchange Volume

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