Bitcoin gets boost as U.S. watchdog approves first swap

By September 13, 2014Bitcoin Business

WASHINGTON (Reuters) – TeraExchange on Friday launched a swap based on the bitcoin virtual currency, becoming the first to receive approval from a U.S. federal regulator for a financial product based on the budding technology.

The derivative allows clients to protect the value of their bitcoin holdings by locking in a dollar value, offering an insurance against the astronomical price swings that have plagued the computer-generated currency.

"For a merchant to take bitcoin, there wasn’t until […]

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