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  • Writer's picturemicropapa68

Coinbase Gets NFA Approval to Offer Cryptocurrency Futures 💰✨ - 80% Market Share Leader 🎉

Leading cryptocurrency platform Coinbase Global recently achieved a major regulatory milestone. On August 18, 2023, the company received approval from the National Futures Association (NFA) to offer cryptocurrency futures to U.S. retail clients, expanding its services beyond institutional clients. The high-profile approval follows a rigorous process that has lasted nearly two years since the company filed with the NFA.

The move would give Coinbase an edge in the cryptocurrency derivatives market, which accounts for about 80 percent of the entire cryptocurrency market. Notably, global cryptocurrency derivatives trading volume reached a staggering $1.85 trillion in July. While celebrating the momentous achievement, Coinbase CEO Brian Armstrong also took the opportunity to voice his criticism of the SEC's current approach to regulating cryptocurrencies.

However, the NFA’s approval comes amid the SEC’s lawsuit against Coinbase. This situation has sparked discussion and debate about whether the NFA and SEC's regulatory positions are aligned or possibly divergent.

In summary, Coinbase's NFA approval not only demonstrates its commitment to regulated and secure operations, but also lays the groundwork for further exploration and potential growth in the crypto derivatives market. Industry stakeholders and investors will be keeping a close eye on ongoing developments, especially the SEC's stance.


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