After 2-Year Wait, Coinbase Secures Approval to List Crypto Futures in the US
Coinbase Global announced securing regulatory approval to enable retail customers in the United States to trade crypto futures. According to the announcement, the National Futures Association, which happens to be a CFTC-designated SRO, has greenlighted Coinbase Financial Markets as a registered Futures Commission Merchant (FCM). The approval comes almost two years after the initial application was submitted. Coinbase Obtains Futures Commission Merchant Approval The regulatory clearance makes Coinbase the first in the industry to directly offer traditional spot crypto trading alongside regulated and leveraged crypto futures on an integrated trading solution for its verified customers. “Today, we are pleased to announce that approval has been secured, which will allow eligible US customers to access regulated derivatives products through Coinbase Financial Markets and alongside our spot market for a seamless experience subject to the oversight of the CFTC and the NFA.” Designated by the Commodity Futures Trading Commission (CFTC), the NFA functions as a self-regulatory entity. The San Francisco-based crypto exchange filed to become a member of the National Futures Association and register as an FCM back in September 2021. While embroiled in a legal dispute with the SEC, Coinbase has characterized the approval as a “significant milestone.” The company said it views this development as a