Trading

Crypto bankruptcy chaos spurs new derivatives standards

Industry body publishes templates for contracts widely used for over-the-counter trading

The collapse of FTX in November left many investors waiting for bankruptcy proceedings before potentially getting their money back
The collapse of FTX in November left many investors waiting for bankruptcy proceedings before potentially getting their money back Photo: Getty Images

A new legal standard for crypto derivatives will give investors greater certainty over when or if they will get their money back.

The new template from the International Swaps and Derivatives Association will set rules on execution and settlement for over-the-counter digital assets transactions.

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