IMPORTANT POINTS:
- Coinbase became the first exchange to offer Bitcoin and Ethereum futures in the United States.
- “Coinbase has invested the necessary time and diligence to align with genuinely concerned regulators,” commented chief legal officer Paul Grewal.
- This came as a surprise to the market, as the exchange is still in a legal dispute with the Securities and Exchange Commission (SEC).
It’s official. Coinbase became the first exchange in the United States to receive permission to offer Bitcoin and Ethereum futures in the country.
The authorization was made by the US National Futures Association. (NFA) and will allow Coinbase to access “broader participation” in the market, since Americans were previously excluded from trading crypto futures.
In a statement, the company stated that “We are pleased to announce that approval has been obtained, which will allow eligible US clients to access regulated derivative products through Coinbase Financial Markets and alongside our spot market for a seamless experience subject to CFTC and NFA oversight.”
“This moment took years. It is a testament to Coinbase’s unwavering commitment to protecting our customers. Simply put, at every juncture, Coinbase has invested the necessary time and diligence to align with genuinely concerned regulators. When regulators seek clarity for the crypto economy, good things happen. Innovation in the US flourishes. The markets remain orderly. Most importantly, consumers and investors are protected. “Director legal de Coinbase, Paul Grewal.
The news surprised the broader market, as Coinbase is still in a legal standoff with the US Securities and Exchange Commission (SEC), accusing the exchange of offering securities on its platforms.
