Coinbase, a prominent crypto exchange, has obtained approval from the National Futures Association (NFA) to introduce Bitcoin and Ethereum futures in the United States. This milestone is significant, as it expands access to the crypto market for a broader audience.
The approval means that eligible individuals in the US can now engage in trading regulated derivatives on Coinbase Financial Markets, under the oversight of the Commodity Futures Trading Commission (CFTC) and the NFA.
This achievement comes after a period of dedicated effort. Coinbase's commitment to compliance and customer protection has been instrumental in securing this regulatory approval. The collaboration between innovation and regulatory clarity is a positive step for the industry's growth.
Paul Grewal, Coinbase's Chief Legal Officer, expressed the significance of this achievement. He emphasized that Coinbase's commitment to regulatory alignment and customer protection has been pivotal in achieving this milestone. This recognition underscores the benefits of fostering collaboration between the crypto industry and regulatory authorities.
Coinbase has faced challenges from the US Securities and Exchange Commission (SEC) and has been part of the ongoing discussions around regulation in the crypto space. The approval is a positive development that showcases the potential for constructive engagement between regulators and the crypto sector.
As of now, Coinbase's stock (COIN) is valued at $79. This achievement is a testament to Coinbase's position in the market and its potential to contribute to the broader adoption of cryptocurrencies.