After an almost two-year waiting period since they submitted their application, cryptocurrency exchange Coinbase has now been granted the authorization to offer cryptocurrency futures trading within the United States. In the announcement they made on Wednesday, Coinbase Financial Markets stated that they have received approval from the National Futures Association to function as a Futures Commission Merchant, tasked with purchasing or selling futures contracts. 



As stated in their announcement, this approval positions Coinbase as the first cryptocurrency-oriented platform in the United States to provide regulated and leveraged cryptocurrency futures trading, in addition to the conventional spot trading. Andrew Sears from Coinbased said: "Offering US investors access to secure and regulated crypto futures is key to unlocking growth and enabling broader participation in the crypto economy" 

The matter is likely to revolve around whether specific crypto assets should be classified as securities or commodities within the US. In recent weeks, Coinbase has petitioned a US judge to dismiss the lawsuit, saying that the cryptocurrencies traded on its platform bear more resemblance to baseball cards than investment securities. This is seen as a big milestone to US investors and we will likely see some effects on the market from this. Since Coinbase got a big position on the market.

Don't have a publish account?
Use https://www.publish0x.com?a=nXe08x4Xex to sign up and you can tip articles you like and get some crypto yourself as well!