A major buzz in the cryptoverse this past month has been the news regarding Coinbase exchange regulatory pass to carry out futures trading specifically on its U.S base. The exchange has finally gained approval by the National Futures Association (NFA) after a long time coming, following the initial filing of its application in September 2021. Now customers within the U.S will soon be able to access futures trading via Coinbase’ financial markets. This marks a major milestone for Coinbase as 75% of cryptocurrency trading volume worldwide consists of futures trading.
The exchange is poised for the opening of a new revenue stream due to this approval, already its stock has as of this moment risen by 4%. Despite the greenlight which the exchange has received from the NFA, Coinbase still has a pending lawsuit case with the Securities and Exchange Commission (SEC) filed on June 6th.
Although Coinbase users in the U.S are excited about the development, the eligibility criteria for futures trading on the platform is yet unknown. Despite the legal challenges which the exchange faces, the future looks bright for Coinbase.
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