Bermuda

Celsius

Bank AI

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 <p>Coinbase has received approval from the&nbsp;Bermuda Monetary Authority (BMA) to offer&nbsp;perpetual futures trading services for non-U.S. clients. The exchange had previously received a class F license from the BMA to allow non-US institutions to trade perpetual futures. However, the exchange has received additional regulatory approval to extend the service to retail users. </p> 
 <p>The derivative market represented 75% of the global crypto trading volume. This shows the demand among traders for derivatives. Moreover, there are only a few platforms that offer such services.</p> 
 <p><strong>Also Read: Coinbase Completes Registration with Central Bank of Spain</strong></p> 
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 <p>According to the official announcement, eligible customers will be able to access regulated perpetual futures contracts on Coinbase Advanced in the coming weeks. Additionally, the firm stated that they <strong>“are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework.”</strong></p> 
 <h3 class="wp-block-heading" id="h-coinbase-s-us-troubles">Coinbase’s US troubles</h3> 
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 <p>The firm noted that the approval comes amid rising <strong>“scrutiny from local regulators.”</strong> The firm’s statement also said, <strong>“We chose to build our business and become a public company in the U.S., believing that the U.S. should be at the forefront of efforts to update our financial system.”</strong></p> 
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 <p>Moreover, the firm added that, <strong>“We are excited to further our mission to help update the global financial system and provide more economic freedom and opportunity for users around the world.”</strong></p> 
 <p><strong>Also Read: Coinbase Faces Regulatory Scrutiny as SEC Objects to Celsius Restructuring</strong></p> 
 <p>Coinbase was recently accused by the US SEC (Securities and Exchange Commission) of violation federal securities laws. The government agency said that the firm was operating illegally as a national securities exchange. Moreover, the SEC has claimed that the firm has not registered with the regulator. </p> 
 <p>Nonetheless, the firm acquired a regulatory approval from the National Futures Association last month. This allows the firm to operate as a futures commission merchant. It also allows the firm to offer eligible U.S. customers access to crypto futures.</p> 
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<div class="cs-entry__tags">
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  <li>COINBASE</li>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/coinbase-secures-perpetual-futures-license-for-non-us-clients-tbt64361.html">https://thebittimes.com/coinbase-secures-perpetual-futures-license-for-non-us-clients-tbt64361.html</a></p>

Coinbase Secures Perpetual Futures License For Non-US Clients

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