According to a statement , Argentina’s National Securities Commission (CNV), authorized Tuesday’s launch of a bitcoin (BTC), index-based futures contract.

The contract will be based upon the Matba Rofex bitcoin index, an Argentinian stock market, and with negotiation and settlement in Argentinian Pesos.

The CNV stated that the resolution was adopted to address the regulatory issues posed by new technologies in the provision of financial products. “It also promotes the development of innovative products by its regulated entities on the capital market.”

The CNV announced in February that it would regulate requirements for crypto companies within that country. This competence was outlined in a reform to the money laundering prevention law, which is currently being debated in the Argentine Congress.

Stephen Alpher edited.