If Coinbase gets approval from the National Futures Association, it must register with the Commodity Futures Trading Commission to get the green light.
Coinbase, the leading US cryptocurrency exchange, has filed an application with the National Futures Association (NFA) to become a registered trader with the Futures Commission (FCM). Details are scarce, but according to the NFA website, the pending application was filed on September 15 under the name “Coinbase Global Inc.” submitted.
Coinbase highlighted the move on September 16 on Twitter and stated, “This is the next step in expanding our offerings and trading futures and derivatives on our platforms.
Goal: to further develop the crypto-economy. ” If Coinbase becomes an approved member of FCM under the NFA, the company must register with the U.S. derivatives regulator, the Commodity Futures Trading Commission, to receive the green light.
Related: President Biden Announces Choices to Fill Vacant CFTC Positions Los mercados de criptoderivados empequeñecen el tamaño de los mercados al contado y, a Pesar de la abundancia de derivados regulatorios de FUD, will lose popularity in 2021 . $ 1 billion, $ 6.8 billion and $ 3.8 billion, respectively.
Coinbase believes the move to futures and derivatives will go a lot smoother than plans to offer a USD coin lending (USDC) product after the Securities and Exchange Commission (SEC) threatened to sue the company if it continues with the introduction. Coinbase also sold $ 2 billion worth of junk bonds this week as part of an offering that saw $ 7 billion in seven-way bond orders and ten-year bonds, according to a September 15 report in the Economic Times .