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Coinbase Secures Approval to Offer Cryptocurrency Futures

Coinbase achieves regulatory approval to operate as a Futures Commission Merchant, enhancing crypto futures access in the U.S.
Published on 2023-08-16

Coinbase Gains Regulatory Approval for Futures Trading

Coinbase, a leading cryptocurrency exchange, has obtained regulatory approval from the National Futures Association (NFA) to function as a Futures Commission Merchant (FCM). This strategic development allows eligible U.S. customers to engage in cryptocurrency futures trading on Coinbase's platforms.

Milestone in Compliance and Growth

Achieving this status marks a significant milestone for Coinbase, emphasizing its dedication to operating within a regulated and compliant framework. The approval aligns with Coinbase’s mission to be a trusted and secure crypto-native platform. The company initially applied for FCM registration in September 2021, and after a two-year process, it has secured the necessary regulatory endorsement.

Impact on the Cryptoeconomy

Access to a Commodity Futures Trading Commission (CFTC)-regulated crypto derivatives market is crucial for unlocking substantial growth potential. It also facilitates broader participation in the cryptoeconomy, offering new opportunities for investors and traders.

Market Response

Following the announcement, Coinbase shares experienced a 5% increase, reflecting positive investor sentiment and confidence in the company's expanded capabilities. This growth underscores the market's anticipation of enhanced trading volumes and increased engagement with cryptocurrency futures.

Overall, this development positions Coinbase to better serve its customers while contributing to the evolution and expansion of the cryptoeconomy.

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