Coinbase Gets Approval to Offer Regulated Crypto Futures to US Customers

August 17, 2023 0 Comments

• Coinbase has been granted the approval to offer eligible US customers access to regulated crypto futures directly from its platforms.
• Coinbase Advanced Trade users will be the first to gain access to crypto futures, followed by customers of the institutional-focused prime brokerage platform Coinbase Prime.
• This latest development unlocks growth and enables broader participation in the crypto economy through CFTC and NFA supervision.

Coinbase Approved for Regulated Crypto Futures

The Commodity and Futures Trading Commission (CFTC) has granted Coinbase permission to offer eligible US customers access to regulated crypto futures directly from its platforms. National Futures Association (NFA) approved the cryptocurrency exchange’s application for registration as an FCM two years ago, following which Coinbase acquired CFTC-regulated futures exchange FairX and renamed it Coinbase Derivatives Exchange.

Launch of Crypto Futures on Advanced Trade

Users of Coinbase Advanced Trade will be the first to have access to the regulated crypto futures products offered by Coinbase with additional details on how verified US customers can do so being provided in due course. Head of Institutional Products Greg Tusar stated that obtaining FCM approval was a necessary step in bringing secure markets accessible via spot market liquidations of digital assets.

Unlocking Growth & Broader Participation Through Supervision

Chief Policy Officer Faryar Shirzad believes that allowing this kind of oversight by CFTC and NFA creates more opportunities for growth in cryptocurrency markets with broader participation becoming possible as well. He further added that this development “will enable institutions, professional traders, and other active traders around the world” to partake in these markets securely and transparently.

Future Plans for Prime Platform Access

Customers of prime brokerage platform Coinbase Prime will also gain access to crypto futures later afterwards according to CEO Andrew Sears who believes this opens up growth opportunities while enabling a larger base of participants within the crypto economy at large.

Conclusion

The latest cryptocurrency news is indicative that regulated trading instruments are becoming increasingly available for digital asset investors in certain regions while creating greater opportunities for scrupulous participants within the industry itself at large.