Following
regulatory issues in the US and a lawsuit in June suggesting illegal activities
within the country, the clouds over Coinbase seem to be clearing. Today
(Wednesday), the platform announced that it has been granted regulatory approval
from the National Futures Association (NFA) to introduce crypto futures to its
US institutional customers.
The
cryptocurrency exchange Coinbase has repeatedly emphasized the importance of crypto
market regulations. In this context, in September 2021, it applied for Futures
Commission Merchant (FCM) authorization with the NFA. Although the process of establishing
a business model that aligns with the Commodity Futures Trading Commission
(CFTC ) requirements was intricate and prolonged, the platform finally received
permission to offer regulated cryptocurrency instruments to eligible customers
in the United States.
“Since
our application in 2021, our team has engaged closely with regulators, ensuring
our business model aligns with CFTC’s customer protection standards,” said
Greg Tusar, Vice President of Institutional Products at Coinbase Financial
Markets, Inc., in today’s blog post.
Tusar
further stated that Coinbase aims to build the most trusted and secure products
and services in the cryptocurrency space.
