Despite the ongoing battle between Coinbase and the SEC, the company managed to achieve a major milestone by entering the futures market.
Coinbase Financial Markets, Inc., part of the leading cryptocurrency exchange in the US, has finally gained regulatory approval to offer crypto futures trading to eligible customers within the country. This long-awaited permission marks a “watershed moment” for Coinbase, which has been reportedly awaiting the green light since 2021.
Under the approval of the National Futures Association (NFA), Coinbase is now an authorized futures commission merchant (FCM).
The NFA is a self-regulatory organization designated by the Commodity Futures Trading Commission (CFTC) to oversee the futures industry. Futures contracts are a type of financial derivative products that allow traders trade based on the future price of an underlying asset, offering potential opportunities for profit through both long and short…
