[xbzbanna]

So I buy a future for 1 bitcoin in 10 days with a price of $10k. The future is cash settled, so in 10 days the exchange will give me [price of BTC] - $10k, or I can sell the future before then. Where does the bitcoin come in? Is the exchange required to hold bitcoin = to the net of all futures?

[QML]

I’m guessing no fiat to crypto or vice versa; 1. That’s a taxable event. 2. Wouldn’t that lead to more financial scrutiny?