The launch of bitcoin futures trading for institutional investors in the US is being planned by Coinbase.
The largest cryptocurrency exchange Coinbase has received approval from the National Futures Association (NFA) to provide qualified customers in the United States with the chance to engage in cryptocurrency futures investments, marking a significant step that highlights its dedication to regulatory compliance.
Unveiling the Future of Investments
Coinbase announced on August 16th that it had received official approval to function as a Futures Commission Merchant (FCM) platform. This significant achievement gives the exchange the go-ahead to introduce Bitcoin and Ether futures contracts into the trading environment, all under the auspices of its derivatives exchange that is governed by the Commodity Futures Trading Commission (CFTC).
This accomplishment was hailed by Coinbase as evidence of their unwavering commitment to running a safe, regulated, and law-abiding company that puts the trust of its clients above all else. The business has established itself as a pillar in the cryptocurrency industry by presenting itself as a dependable and trustworthy platform.
Related: First Leveraged Bitcoin Futures ETF Starts Trading on CBOE
Opening a New Chapter
Even though the announcement announces a game-changing change, impatient traders in the United States must wait. Users who are interested in receiving early access should sign up for the waitlist for the soon-to-be-released futures trading service that has just been approved.
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The statement comes as Coinbase navigates a legal battle with the U.S. Securities and Exchange Commission (SEC), which is a crucial time for the company. Coinbase is making serious efforts to broaden and improve its offers despite the current legal dispute. The company’s entry into bitcoin futures trading is in line with its overarching objective to broaden its worldwide reach and offer cutting-edge opportunities for both institutional and individual investors.
Coinbase establishes itself as a forerunner in the developing world of digital finance as it prepares the way for easily accessible crypto futures investments. This impressive step not only reinforces its prominence but also highlights its crucial role in promoting cryptocurrency adoption in general and the transformative potential that it has.
Related: Legal Scholars File Amicus Brief Supporting Coinbase in SEC Lawsuit