- Coinbase secures approval from the National Futures Association (NFA) to offer Bitcoin and Ether futures trading in the U.S.
- The landmark decision emphasizes Coinbase’s dedication to a compliant and trusted crypto ecosystem.
Coinbase Steps into the Futures Arena
In a significant stride for the cryptocurrency domain, Coinbase, a leading cryptocurrency exchange, has won the endorsement of the National Futures Association (NFA) to launch futures trading for eligible investors in the U.S. This pivotal authorization sees Coinbase poised to manage a Futures Commission Merchant (FCM) platform, amplifying the opportunities in the crypto trading landscape.
Pioneering Crypto Futures in the US
This esteemed clearance empowers Coinbase to offer futures contracts for both Bitcoin and Ether through its Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange. The company, exuding confidence, communicated,
“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.”
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Yet, enthusiasts will need to hold their horses. Despite the promising announcement, Coinbase’s futures trading service won’t be immediately accessible to U.S. investors. A hint on their official website suggests that crypto aficionados can soon look forward to “U.S. regulated futures trading,” urging them to enlist for early access.
In a profound disclosure, Coinbase illuminated the magnitude of the global crypto derivatives market, emphasizing that it represents a whopping 75% of the global crypto trading volume. Moreover, the firm underscored the unique advantage of futures trading, elucidating,
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“The ability to trade using margin gives customers leverage and access to the crypto market with less upfront investment than traditional spot trading.”
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Coinbase’s progressive journey into futures trading isn’t entirely unforeseen. Earlier in June, the exchange had officially disclosed its ambition to propel BTC and ETH futures trading, targeting institutional investors. They also harbored plans for inaugurating a derivatives exchange in Bermuda, denoting their aggressive international expansion blueprint.
Yet, it’s not all sunny skies for Coinbase. They are concurrently embroiled in a legal face-off with the U.S. Securities and Exchange Commission. The core of the dispute traces back to allegations by the regulator that Coinbase sidestepped local securities norms by vending unregistered securities. The unfolding legal narrative contrasts their optimistic stride into the futures market, painting a multifaceted picture of their journey ahead.
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