CME Group Announces Launch of Ether Futures
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CHICAGO, Feb. 8, 2021 /PRNewswire/ CME Group, the world s leading and most diverse derivatives marketplace, today launched Ether futures, further expanding its crypto derivatives offerings in this emerging asset class. As institutional demand for transparent, exchange-listed crypto derivatives continues to increase, we are pleased to launch our new Ether futures contract, said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. The addition of Ether, along with our liquid Bitcoin futures and options, will create new opportunities for a broad array of clients, whether they are looking to hedge ether positions in the spot market or gain exposure to this cryptocurrency on a regulated derivatives marketplace.
Marion County Prohibits Use of Gambling Machines at Internet Cafés
By Jessica Torrente
February 3, 2021
The Marion County Commission voted unanimously Tuesday to prohibit the use of simulated gambling devices for commercial purposes.
The county sheriff’s office recommended the action because of what it said was an increase in violent crimes because of simulated gambling devices at internet cafés.
According to the ordinance, simulated gambling devices include any computer-operated games – particularly slot machines – that may deliver the person playing a payoff.
Internet cafés are considered hotspots for crime because of practices like keeping cash on hand and lacking properly trained security, Sgt. Paul Bloom, the public information officer for the sheriff’s office, told WUFT News.
Many people, including café customers, owners, lawyers and an industry representative, implored commissioners to take lesser regulatory actions to deal with the problems – most notably crime – that have plagued internet cafes.
But commissioners agreed with Sheriff Billy Woods and his general counsel, Tim McCourt, who argued that the ordinance was necessary. The ordinance bans simulated gambling and calls for fines and possibly even jail time for café operators who don t comply.
The Sheriff s Office said similar ordinances in at least two other Florida counties have withstood legal challenges. There are almost 40 internet cafes operating in Marion.
At the meeting s conclusion, those opposing the measure gathered outside the commission chambers to voice their displeasure. One of the speakers, Kelly Mathis, a Jacksonville lawyer who represents some café owners, told a Star-Banner reporter they are reviewing options.
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Tim McCourt, global head of equity index and alternative investment products at CME Group, said there has been a significant increase in the institutional adoption of cryptocurrencies as the exchange plans to launch Ether futures next month.
CME has announced it intends to launch Ether futures on February 8. The new contract will be cash-settled and based on the CME CF Ether-Dollar Reference Rate, a once-a-day reference rate of the U.S. dollar price of Ether.
Tim McCourt, CME Group
McCourt told Markets Media: “We introduced an Ether reference rate in May 2018 which is a regulated benchmark using the same exchanges and methodology as our Bitcoin reference rate.”