Fortex: US Treasury Further Regulates Cryptocurrency Market

 

Recently, the U.S. Treasury Department issued a Request for Comments for the cryptocurrency market, listing 20 issues that hint at the security of crypto-assets. It also states that the Treasury Secretary, Attorney General, Secretary of Homeland Security and other federal officials will develop a coordinated action plan to strengthen the regulation of the crypto-asset market.

The merger of the original Ethereum Mainnet and Beacon Chain and the entry of cryptocurrency into the everyday consumer space have led to a significant increase in cryptocurrency trading volumes.

On the cryptocurrency side, the 7-day moving average trading volume (7D MA) for cryptocurrencies increased from $18.1 billion on September 6 to $28.6 billion on September 16.

On the cryptocurrency derivatives front, cryptocurrency derivatives trading volume on exchanges increased to $3.12 trillion in July, up 13% from a year earlier, according to CryptoCompare data. The growth in derivatives trading boosted overall cryptocurrency trading volume, which reached $4.51 trillion in July.

As crypto asset transaction volumes and payment scenarios expand, the key for liquidity providers to improve market competitiveness is access to high-quality crypto assets as well as the market depth and liquidity.

Fortex XForce multi-asset e-trading platform access high-quality traditional financial assets worldwide, including stocks, futures, foreign exchange, metals, energy, and commodities. Fortex XForce e-trading ecosystem now supports and aggregates nine global crypto exchange giants, including OKCoin, OKX, Huobi, Binance, FTX, Coinbase, Kraken, BitStamp and Bitfinex, enabling access to global liquidity and depth of crypto assets for clients.

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About Fortex

Founded in 1997, Fortex Technologies aims to revolutionize trading with its powerful, neutral, multi-asset trading platform focused on the FX, equities, and crypto markets. Fortex’s XForce solution, ECN, MT4/5 bridges, infrastructure hosting and more are used by regional banks, hedge funds, asset managers, broker dealers and professional traders around the world to enhance liquidity access, improve execution workflows and support sophisticated trading strategies.