Coinbase : Bitcoin and Ethereum futures approved for trading in the USA

Crypto trading platform Coinbase has received the regulatory green light to offer Bitcoin (BTC) and Ethereum (ETH) futures contracts to its US customers, opening up new revenue opportunities in the booming crypto derivatives sector.

Finally, a significant new milestone has been reached in the ever-evolving world of crypto-currencies. Well-known crypto trading platform Coinbase proudly announced that it had obtained the long-awaited regulatory approval from the National Futures Association (NFA), a CFTC-accredited self-regulatory organization. This crucial milestone now paves the way for Coinbase to offer Bitcoin (BTC) and Ethereum (ETH) futures contracts to its US-based customers.

The press release issued by Coinbase lit up the crypto landscape with this exciting news. Coinbase users will soon have the opportunity to dive directly into the world of Bitcoin and Ethereum futures through Coinbase Financial Markets.

The significance of this event cannot be underestimated. The possibility of offering Bitcoin futures contracts to US customers presents itself as an invaluable source of revenue for Coinbase. The company is quick to point out that the global crypto derivatives market accounts for around 75% of total crypto trading volume worldwide. This foray into BTC and ETH futures trading will undoubtedly enable Coinbase to further solidify its position and offer lucrative opportunities to its customers.

Coinbase successful at last!

Coinbase’s General Counsel, Paul Grewal, shared his enthusiastic thoughts on this remarkable milestone via his Twitter account. He pointed out that this approval was the result of years of sustained efforts with US regulators, in particular the CFTC.

In his inspiring words, Grewal said,

“This moment represents years of hard work and dedication. It is a testament to Coinbase’s unwavering commitment to protecting our customers. Every step of the way, Coinbase has invested the time and resources necessary to comply with regulators genuinely interested in strong regulation. When regulators aim for clarity in cryptoeconomics, positive developments emerge. Innovation continues to flourish in the U.S., markets remain organized and, most importantly, consumers and investors are safeguarded.”

Grewal’s message echoes Coinbase’s recent challenges with another US regulator, the SEC, which launched legal action against the crypto exchange platform.

This promising news for Coinbase comes at a critical time, as the US regulator, the SEC, prepares to take a position on Bitcoin spot ETF applications submitted by major funds such as BlackRock, Fidelity, Valkyrie, WisdomTree and Invesco. The future of cryptocurrency trading in the USA is slowly becoming clearer, with Coinbase at the forefront of guiding the way to new opportunities.