Coinbase applies to offer crypto derivatives trading

Coinbase now plans to offer crypto futures based trading services. For this they filed an application to become FCM members under NFA.

Coinbase is the largest crypto Exchange of the United States and day by day this exchange is trying to enhance the user experience and also want to offer huge numbers of features and facilities for their users, so that they can perform all their work at a single place. Recently they planned to introduce USDC based lending service but US regulators said that they will consider their lending services of USDC as unregistered securities.

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Coinbase Exchange filed an application to get approval to offer futures trading, with the National Futures Association (NFA). Exchange submitted the application on 15 September under the official Company name Coinbase Global Inc.

On 16 September, Coinbase exchange informed through twitter that they filed the application to become Futures Commission Merchants ( FCM). And also claimed that their aim is to grow the crypto economy. 

Here it should be noticed that if Coinbase exchange will get approval from the NFA then Coinbase Exchange needs to go through the approval of U.S. derivatives regulator, Commodity Futures Trading Commission ( CFTC). 

Coinbase expects that its plan for the futures trading products will go smoothly over their lending product of USDC, which is threatened by the US regulators, the SEC. 

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