Coinbase (COIN) gets approval to sell crypto futures in US; Shares rise

Coinbase (NASDAQ: COIN) announced today it has successfully obtained regulatory approval from the National Futures Association (NFA) to operate as a Futures Commission Merchant (FCM).

This new status enables eligible customers in the United States to access cryptocurrency futures via Coinbase’s platforms.

“This is a critical milestone that reaffirms our commitment to operate a regulated and compliant business and be the most trusted and secure crypto-native platform for our customers,” the company said in an announcement.

Coinbase filed an application with the NFA for registration as an FCM in September 2021. Nearly two years later, the company received the green light from regulators.

“Access to a CFTC-regulated crypto derivatives market is essential to unlocking significant growth and enabling broader participation in the cryptoeconomy.”

Coinbase shares rose 5% on the news.

By Senad Karaahmetovic

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