Cryptocurrency exchange Coinbase has received regulatory approval from the National Futures Association (NFA), a CFTC-designated self-regulatory body, to operate a Futures Commission Dealer (FCM) and offer eligible US customers access to crypto futures from our platforms.
Coinbase Receives Approval for Eligible US Customers to Trade Federally Regulated Crypto Futures
The company made the following statements in its statement:
“This is a critical milestone that reaffirms our commitment to running a regulated and compliant business and being the most reliable and secure crypto native platform for our customers.
Coinbase will now be the first crypto-native leader to directly offer traditional spot crypto trading alongside regulated and leveraged crypto futures in an integrated trading solution for our verified clients.
At Coinbase, we believe regulation and transparency are critical and build trust for individual customers and institutions.
Access to a CFTC regulated crypto derivatives market is essential to unlock significant growth and broader participation in the crypto economy.
In September 2021, we applied to the NFA to register with an FCM. Our team has since worked with regulators to ensure we comply with all necessary regulations and that our FCM's business model meets the CFTC's customer protection requirements.
Coinbase chose to be a public company in the US because we believe it will best serve the US by embracing the crypto economy and offering the regulatory framework with the highest standards in consumer protection.
Obtaining FCM approval has been our next step to provide these transparent and secure markets to our clients so they can access our liquid spot market as well as regulated futures contracts.
In the coming months, we will provide additional information on how our verified US customers can access our futures offering.”
*Not investment advice.
