In a tweet, Coinbase stated that it submitted an application to the NFA to register as a futures commission merchant ("FCM") in order to offer cryptocurrency futures and derivatives trading on the company's exchange platforms.
Coinbase's application for FCM registration follows a recent report that the SEC notified Coinbase of the agency's intent to bring an enforcement action against the company should it launch its proposed Coinbase Lend program. In April 2021, Coinbase acquired Skew, a derivatives market analytics company.
Primary Sources
- Coinbase Twitter Post: September 15, 2021, 5:05PM
- Bloomberg Press Release: Coinbase Applies to Trade Crypto Futures Amid Derivatives Surge
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
