Video courtesy of ABC News
Coinbase, the leading cryptocurrency exchange in the US, has secured regulatory permission to provide crypto futures trading for retail customers. While this isn't the debut for retail investors to delve into crypto futures (with the Chicago Board Options Exchange (CBOE) currently allowing various investors to partake in crypto derivatives), it marks the inaugural regulatory approval for a crypto-centric exchange.
This approval was granted by the National Futures Association (NFA), an independent regulatory body endorsed by the US Commodity Futures Trading Commission (CTFC).
Interestingly, this regulatory green light is unexpected, especially considering an ongoing lawsuit between Coinbase and the US Securities and Exchange Commission (SEC). The SEC had charged Coinbase in June with presenting unregistered securities to the public.
Simultaneously the SEC continues its legal battle with Coinbase over alleged illicit activities, even though the organization previously granted Coinbase the authorization to publicly list and trade its shares. There's no hiding how mismanaged the SEC currently is when looking at this stew of conflicting.
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