Coinbase gets approval to allow crypto futures trading in US

Coinbase Global said on Wednesday it had secured regulatory approval to allow U.S. retail customers to trade crypto futures, sending shares of the exchange up 5% in premarket trading.

Coinbase said the approval from the National Futures Association was a "critical milestone that reaffirms our commitment to operate a regulated and compliant business."

In June, the exchange was slapped with a lawsuit by the U.S. Securities and Exchange Commission, which accused it of operating illegally because it failed to register as an exchange.


Crypto derivatives trading volumes in July totaled about $1.85 trillion, according to research firm CCData.

The derivatives market represents almost 80% of the entire crypto market, with leveraged bets on futures and other derivatives often at the root of volatility in the wider market.