Richard Levin Quoted in Law 360 'CME Group Plans To Launch Bitcoin Options Early Next Year'
Richard B. Levin, who chairs the Fintech and Regulatory practice at Polsinelli told Law360 on Friday that CME and Intercontinental Exchange’s moves are evidence of an “institutional appetite” for bitcoin futures.
“Exchanges would not be launching them unless their clients and members actually had an interest, and if the community served by the large investment banks didn't have an appetite,” Levin said. “It’s a logical evolution for them to go into an area that people are looking to hedge risk through different types of financial products.”
The big question, Levin said, will be how regulators respond.
“Both organizations are highly sophisticated, and I believe that they have been in discussion with their regulators about offering these products,” he told Law360. “However, I know in the past there have been concerns that some of the exchanges have self-certified and launched products, and members of Congress and the agencies have had concerns about exchanges launching products before the issues have been fully vetted.”
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