For institutional investors in the United States, Coinbase is getting ready to launch crypto futures trading.
The National Futures Association (NFA) has granted Coinbase’s application to allow its U.S. clients to participate in cryptocurrency futures.
Coinbase, Inc. has been granted permission to operate as a Futures Commission Merchant (FCM), the business said on August 16.
With this green light, Coinbase may begin offering Bitcoin futures contracts on its CFTC-regulated derivatives exchange.
Coinbase stated in a statement, “this is a crucial milestone that reinforces our commitment to run a regulated and compliant company.”
It has been announced that the new futures trading service from Coinbase will not be offered in the United States at this time.
“Futures trading under U.S. regulation is on the horizon. The website encouraged users to Sign up to join the waitlist and receive early access.”
According to Coinbase’s disclosure, 75% of all cryptocurrency trading activity occurs in the global crypto derivatives market.
Earlier this month, it was claimed that Coinbase will begin offering Bitcoin and Ethereum futures trading to institutional investors in early June. As part of its worldwide development plan, Coinbase has previously considered opening a derivatives exchange in Bermuda.
Coinbase has been fighting the U.S. Securities and Exchange Commission in court for some time now, so this development is timely. In early June, the regulator sued Coinbase, claiming that the exchange had broken local securities regulations by offering and selling unregistered securities.
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