Sign Up on MEXC
Crypto exchange Coinbase’s CFTC-registered futures commission merchant Coinbase Financial Markets has received regulatory approval from the US CFTC’s National Futures Association to offer crypto futures trading to eligible customers in the US. It is a major milestone for Coinbase and the crypto community amid a lawsuit by the US SEC.
Coinbase To Offer Regulated Crypto Futures Trading in the US
Coinbase Financial Markets secured regulatory approval from the National Futures Association to operate as a Futures Commission Merchant (FCM). It will make Coinbase to directly offer crypto futures trading to its customers in the U.S., according to an official blog post on August 16.
“This is a critical milestone that reaffirms our commitment to operate a regulated and compliant business and be the most trusted and secure crypto-native platform for our customers.”
Coinbase filed an FCM registration application with the NFA in September 2021. The crypto exchange has worked with the regulators to comply with all CFTC’s regulations and customer protection requirements. The company plans to work with regulators to receive approvals for its products to advance economic freedom. Also, it supports building the most trusted and secure products and services.
US customers can now access regulated derivatives products through Coinbase Financial Markets. Coinbase becomes the first exchange to offer traditional spot crypto trading alongside regulated and leveraged crypto futures.
It will help increase crypto adoption in the US, making people access cryptoeconomy in a safe way. Also, it helps keep the US at the center of digital innovation.
Also Read: Here’s Why Terra Classic (LUNC) and Terra (LUNA) Prices Fell 10%
Coinbase Grows Despite US SEC Lawsuit
Last week, Coinbase expanded to Canada through a partnership with Peoples Trust Company to provide access to the Interac e-Transfers to its users in the country. The exchange also plans to expand deeply in the country as it’s the second-most crypto-aware country for Coinbase’s international markets.
Coinbase filed a motion to dismiss the US SEC lawsuit alleging that the regulator acts outside its oversight border and crypto doesn’t fall under SEC oversight. Senator Cynthia Lummis submitted an amicus brief in favor of the Coinbase vs SEC lawsuit dismissal.
COIN stock price skyrockets 6.39% to $84.24 in pre-market hours. COIN prices recently started falling after the second quarter results.
Also Read: Judge Torres Approves Investment Banker Declarant In Ripple Vs SEC
- Altcoin Season Index Hits New High As ETH, SOL, DOGE, and XRP Rally
- ‘Huge Breakthrough,’ Peter Brandt Says as Dogecoin Reclaims $0.30 Ahead ETF Launch
- Bitcoin Bull Cycle Could Extend To 2026, Arthur Hayes Predicts
- CZ Urges Banks to Adopt BNB as Analyst Predicts $1,300 Price Target
- Shiba Inu Update: Team Freezes 4.6M BONE Amid New SHIB Upgrades
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
- Solana Price Prediction: Ford’s $1.65B Treasury Bet Sets Sights on $320
