Coinbase secures NFA registration as Futures Commission Merchant
Coinbase Financial Markets, Inc. has secured regulatory approval from the National Futures Association (NFA), a CFTC-designated self-regulatory organization, to operate a Futures Commission Merchant (FCM).
The NFA BASIC system shows that Coinbase Financial Markets has become an NFA member and an FCM.
In September of 2021, Coinbase filed an application with the NFA to register an FCM.
Coinbase commented:
“We believe this is a watershed moment to be able to bring regulated crypto products to US customers. Where regulations are clear and sensible, we will work with regulators to receive the authorizations needed to offer products that align with our purpose of using crypto to update the financial system to advance economic freedom and opportunity. We support this purpose by building the most trusted and secure products and services”.
With the NFA approval secured, eligible US customers can access regulated derivatives products through Coinbase Financial Markets and alongside its spot market for a seamless experience subject to the oversight of the CFTC and the NFA. Approval for US customers to access regulated crypto derivatives will allow more people to access the cryptoeconomy in the United States in a safe way that helps keep the US at the center of digital innovation.
Coinbase added:
“Obtaining FCM approval was our next step in bringing these transparent and secure markets to our customers so they can access regulated futures contracts alongside our liquid spot market. In the coming months, we’ll provide additional information on how our verified US customers can access our futures offering”.