Cryptocurrency exchange Bullish, backed by Peter Thiel, has joined forces with the Government of Gibraltar and the Gibraltar Financial Services Commission to develop a regulatory framework for clearing and settling crypto derivatives. This strategic partnership highlights Bullish’s commitment to bringing traditional market standards to the crypto industry. CEO Tom Farley emphasized the need for specific regulations addressing crypto derivatives, stating that the current lack of such frameworks poses challenges for risk management and oversight. The goal is to implement rigorous guidelines similar to those used in established markets like EMIR and Dodd-Frank, ensuring transparency and accountability.