The Government of Gibraltar has announced the establishment of the world's first regulatory framework for the clearing and settlement of cryptocurrency derivatives, in collaboration with the Gibraltar Financial Services Commission (GFSC) and cryptocurrency exchange Bullish. After six months of adjusting traditional financial clearing rules to accommodate the virtual asset market, Bullish stated that this framework allows virtual asset derivative contracts to be cleared and settled through recognized clearing institutions, aiming to enhance market transparency and capitalization levels. (CoinDesk)