New York CNN —Coinbase has won a crucial regulatory approval that will allow the platform to provide US-based investors access to the crypto derivatives market.
The approval comes from the National Futures Association, a self-regulatory body designated by the Commodity Futures Trading Commission, nearly two years after Coinbase applied to register as a futures merchant.
Crypto derivatives make up more than 75% of all global crypto trades, but such products had been off-limits for investors in the United States, in part because of their complexity and high levels of risk.
“This is a significant milestone for bringing federal regulatory oversight over the crypto markets,” said Faryar Shirzad, Coinbase’s chief policy officer.
“Offering US investors access to secure and regulated crypto futures is key to unlocking growth and enabling broader participation in the cryptoeconomy,” said Andrew Sears, the CEO of Coinbase Financial Markets.
Persons:
New York CNN — Coinbase, Coinbase, ”, Faryar Shirzad, Andrew Sears
Organizations:
New, New York CNN, National Futures Association, Commodity Futures Trading Commission, NFA, Securities and Exchange Commission, Binance, Coinbase
Locations:
New York, United States