Coinbase Receives Approvals for Crypto Futures Trading in the US
Coinbase Financial Markets, Inc. has announced that it has obtained approvals from the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) to operate as a Futures Commission Merchant (FCM) in the United States. This means that Coinbase can now offer investments in crypto futures to eligible customers. Although the service is not immediately available, interested users can join a waitlist for early access. This makes Coinbase the first platform to offer both traditional spot crypto trading and regulated crypto futures to US clients.
Key Points:
- Coinbase has secured approvals from the NFA and CFTC to operate as an FCM.
- The company can now offer futures contracts in BTC and ETH to eligible customers in the US.
- Coinbase sees this as a significant milestone for regulatory oversight in the crypto markets.
- The company acquired a CFTC-regulated futures exchange in 2022 to prepare for offering crypto derivatives.
- This development showcases Coinbase’s commitment to aligning with US regulations amid its legal battle with the SEC.
Hot Take: Coinbase’s approvals to operate as an FCM and offer crypto futures in the US mark a major step forward for the company and for regulatory oversight in the crypto markets. By obtaining these approvals, Coinbase can provide more financial options to Americans while adhering to high standards set by the CFTC and NFA. This move also positions Coinbase as a leader in the industry, as it combines both spot trading and regulated futures on its platform. Overall, this development highlights Coinbase’s dedication to compliance and its efforts to remain at the forefront of digital innovation in the United States.
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