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Coinbase has received regulatory approval from the National Futures Association [ NFA ] to offer crypto futures trading to eligible U.S. customers. Alongside, it has also received the green light to operate a Futures Commission Merchant [FCM]. $COIN – Coinbase Gets NFA Approval to Offer Crypto Futures — WSJ — *Walter Bloomberg (@DeItaone) August 16, 2023 The latest development allegedly makes Coinbase the first crypto platform to directly offer traditional spot crypto trading along with regulated and leveraged crypto futures. In a recently shared blog-post, Greg Tusar, the Head of Institutional Product at Coinbase, said that this served as a “critical milestone” and reaffirmed the company’s commitment to operate a regulated and compliant business. In effect, it puts Coinbase on the path to being the most secure crypto platform for customers. Also Read: Coinbase: ‘Fresh’ Whale Wallets Created in 2023 Drive Activity on Base ...

In the latest development, Coinbase ’s chief executive officer (CEO) Brian Armstrong has started a Twitter poll on whether Bank of America is closing accounts that transact with the exchange. The Coinbase  chief posed the question late Wednesday, July 12, while tagging Bank of America, adding that he was “curious if this is the issue”. advertisement Has @BankofAmerica closed your account due to transactions with @ Coinbase ? Curious if this is the issue. — Brian Armstrong 🛡️ (@brian_armstrong) July 13, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read ...

While the US SEC recognizes Coinbase Custody as a “qualified custodian,” Coinbase believes the revised RIA custody rule singles out crypto to make inappropriate assumptions about custodian practices based on securities. The SEC proposed rulemaking fails to protect other asset classes, including crypto assets. advertisement Coinbase CLO Paul Grewal Diagrees With US SEC Rulemaking Crypto exchange Coinbase’s chief legal officer Paul Grewal sent a letter to the SEC, calling the proposed rulemaking “Safeguarding Advisory Client Assets, Proposed Rule 223-1” misguided. Coinbase seeks revision to the proposal and related staff guidance to protect all asset classes, including crypto assets, which have not been classified as securities until now. Coinbase owns and operates Coinbase Custody Trust Company, a qualified custodian for RIA clients. The custodian safeguards client assets from bankruptcy and cyber threats. Coinbase seeks the expanded ...

It is not uncommon for crypto companies based in the U.S. to relocate to other regions due to the uncertain regulatory landscape in the country. Several governments across the world have been introducing clear regulations for the crypto industry. But the U.S. government is not there yet. Meanwhile, the United Arab Emirates [UAE] has been praised for its efforts to regulate the crypto market. This has lured several organizations into the region and crypto exchange Coinbase could be next in line. In a recent blog post titled “The UAE: Recognising the transformative potential of the cryptoeconomy,” Coinbase lauded the country’s initiatives in the crypto space. The firm also said, “There is no doubt that UAE has the potential to be a strategic hub for Coinbase, amplifying our efforts across the world. It further serves as a particularly strategic bridge between Asia and Europe — two of our existing focus international regions to date.” JUST IN: Coinbase is considering UAE a...

However, the crypto exchange stated that there would be no impact on the customers’ outstanding loans. The development comes at a time when Coinbase has been ruffling feathers with the U.S. Securities and Exchange Commission (SEC). The securities regulators and the crypto exchange have taken matters to court. advertisement While the SEC blames Coinbase for violating federal securities laws by selling unregistered tokens, the crypto exchange has blamed the regulator for not providing enough clarity on crypto regulations. Speaking on the recent development, a Coinbase spokesperson told Bloomberg: “We regularly evaluate our products to ensure we’re prioritizing the offerings that our customers care about most”. Coinbase Borrow was a popular service that offered loans of up to $1 million against Bitcoin as collateral. However, this facility was available only in certain US states. Trending Stories MAT...

Brian Armstrong said centralized firms have a responsibility to monitor transactions and carry out AML checks. Coinbase chief executive Brian Armstrong has hinted that the firm’s new Layer-2 blockchain network Base may be subjected to transaction monitoring and anti-money laundering measures at launch. In an interview with Joe Weisenthal on Bloomberg Radio on Mar. 6, Armstrong acknowledged that Base has some centralized components today, adding “it will be more and more decentralized over time.” However, he then suggested that there will be transaction monitoring and AML requirements for users of the new layer-2 network . He suggested that Coinbase will have a responsibility in terms of transaction monitoring in the early days, adding: “I think that the centralized actors are the ones that are probably going to have the most responsibility to avoid money laundering issues and having transaction monitoring programs and things like that.” Armstrong’s comments were also highlighted up b...

The crypto industry was startled as rumors about Binance being probed by the U.S. Justice Department began surfacing. The exchange, however, poured cold water on this and released a report highlighting its fight against cybercrime. Coinbase followed suit and rolled out a new transparency report that shed light on its requests from law enforcement. There has been a massive surge with regard to law enforcement information requests over the past year. Binance reportedly garnered 47,000 requests from these agencies. Coinbase also received these requests but were limited to 12,320. It should be noted that most of it came from the United States and was related to criminal investigations. Source As seen in the chart, the United States accounted for 47 percent of these requests. It should be noted 80 percent of law enforcement pleas were from the U.S., U.K. Germany as well as Spain. Regulators in Spain seemed to have had a lot of doubts. As the number of requests from the countr...