Coinbase, the US cryptocurrency exchange, has submitted an application to become a FCM-registered trader with the National Futures Association (NFA).
According to Coin Telegraph, and according to the website of the National Futures Association website, the pending application was submitted yesterday, Wednesday, September 15, under the name (Coinbase Global Inc. ).
Coinbase highlighted the move via Twitter today Thursday, September 16th, stating that this is the next step to expand our offering and offer futures and derivatives trading on our platforms. Objective: To increase the development of the cryptocurrency economy.
If Coinbase becomes an approved member of the Futures Commission under the direction of the National Futures Association, the company will then need to register with the US derivatives regulator with the CFTC To get the green light.
Coinbase hopes its transition to futures and derivatives will be smoother than its plans to offer a US dollar (USDC) lending product, after the Securities and Exchange Commission (SEC) threatened SEC) to sue the company if it continues to launch.
According to a report yesterday from The Economic Times, Coinbase also sold $2 billion worth of junk bonds this week in a bid that saw $7 billion in bids. Dollars for seven and 10 year bonds.
