(Nov 20): Singapore’s financial regulator has proposed green-lighting crypto-token derivatives to list and trade on approved domestic exchanges.

Under the proposal, trading of derivatives on common cryptocurrencies such as Bitcoin and Ether will be subject to the Securities and Futures Act, the Monetary Authority of Singapore said Wednesday in a statement. The plans are in response to interest from hedge funds and asset managers that trade such products, the MAS said.

Singapore is joining the global race for crypto derivative trading as institutional investors increasingly seek ways to hedge their exposure to the assets. Giant US bourse operators CME Group Inc and Intercontinental Exchange Inc. already offer futures and plan to introduce other derivative products in the next few months.

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