The official announcement said, “Coinbase will now be the first crypto-native leader to directly offer traditional spot crypto trading alongside regulated and leveraged crypto futures, on an integrated trading solution for our verified customers.”
The National Futures Association (NFA) has permitted Coinbase to operate a Futures Commission Merchant (FCM).
In 2021, the firm sought to register with the NFA to list crypto futures for its US clients. Later, in September 2022, Coinbase acquired FairX, a CFTC-approved derivatives exchange which Coinbase later rebranded as Coinbase Derivatives Exchange.
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Earlier this year, Coinbase began listing Bitcoin (BTC) and Ether (ETH) futures on its derivatives exchange. However, the crypto offerings were only meant for Coinbase's institutional clients instead of its regular user base.
The National Futures Association, a CFTC designated SRO, has approved Coinbase Financial Markets. as a registered Futures Commission Merchant .
— Coinbase (@coinbase) August 16, 2023
Coinbase can now offer futures contracts in BTC and ETH to eligible customers in the US.
In its latest blog post, Coinbase announced the NFA's approval will allow even normal users to gain access to the crypto futures market. The operations of Coinbase's spot and derivatives exchanges will be overseen by both the CFTC and the NFA.
Unfortunately, it will take some time before Coinbase’s crypto derivatives become available for US residents. Verified users who wish to gain early access to the crypto futures will need to join a waitlist on Coinbase's website.
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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