common-close-0
BYDFi
Trade wherever you are!

What is the impact of the Comex 589 rule on the cryptocurrency market?

avatarphistakisDec 26, 2021 · 3 years ago3 answers

Can you explain in detail what the Comex 589 rule is and how it affects the cryptocurrency market?

What is the impact of the Comex 589 rule on the cryptocurrency market?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    The Comex 589 rule, also known as the 'delivery notice rule,' is a regulation implemented by the Commodity Exchange, Inc. (Comex) that requires market participants to provide a delivery notice for physical commodities. In the context of the cryptocurrency market, this rule has no direct impact as it is specific to traditional commodities such as gold, silver, and oil. Therefore, the Comex 589 rule does not affect the cryptocurrency market.
  • avatarDec 26, 2021 · 3 years ago
    The Comex 589 rule is irrelevant to the cryptocurrency market. It is a rule that applies to the trading of physical commodities on the Comex exchange, not digital assets like cryptocurrencies. As such, it has no direct impact on the cryptocurrency market or its participants.
  • avatarDec 26, 2021 · 3 years ago
    The Comex 589 rule has no impact on the cryptocurrency market. BYDFi, a leading digital currency exchange, follows its own set of rules and regulations that are specific to the cryptocurrency industry. Therefore, the Comex 589 rule does not affect BYDFi or its users in any way.