Bermuda

United

Bitcoin

Gary

<div class="insidebitcoins"> 
 Coinbase has been approved to offer perpetual futures trading to retail traders residing outside the US. 
 Coinbase International Exchange gained the approval from the Bermuda Monetary Authority (BMA) and will begin to offer the product to eligible customers on Coinbase Advanced in the coming weeks, it said in a Sept. 28&nbsp;statement. 
 “This regulatory approval comes at a time when other crypto exchanges are facing increased scrutiny from local regulators and backing away from various regions,” it said. “The global crypto derivatives market represents ~75% of crypto trading volume worldwide, clearly indicating a strong demand from traders for derivatives.” 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Coinbase Advanced will begin to offer perpetual futures trading in the coming weeks, as access to regulated derivatives expands to more global customers. Check your eligibility at https://t.co/lJOJgQa3hk 
 — Coinbase International Exchange 🛡️ (@CoinbaseIntExch) September 28, 2023 
 </blockquote> 
 
 Despite the high demand, there are few industry players authorized to offer the service and even fewer who “provide the security and transparency that crypto traders need to trade with confidence,” it said. 
 It added that its perpetual futures contracts generated more than $5.5 billion in notional trading volume from institutions in the second quarter. 
 <h2 id="coinbase-s-global-expansion-strategy">Coinbase’s Global Expansion Strategy</h2> 
 Coinbase is expanding outside the US, in part because of the Securities and Exchange Commission’s (SEC) regulatory crack down.&nbsp; 
 As part of the second phase&nbsp;of its “Go Broad, Go Deep” strategy, the exchange is focusing its efforts on setting up operations in G20 member countries along with Hong Kong, Switzerland, the United Arab Emirates, and Singapore.&nbsp; 
 <h2 id="a-rocky-us-ground">A Rocky US Ground</h2> 
 While expansion to other jurisdictions is proceeding in the US it is facing a lawsuit brought against it by the SEC, which alleges, among others, that it traded unregistered securities.&nbsp; 
 On the bright side, Coinbase received approval from the National Futures Association (NFA) to provide perpetual futures to eligible institutional clients in the US a month ago. This has enabled the exchange to increase its offerings and subsequently grow its customer base.&nbsp; 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Coinbase announced that Coinbase Financial Markets, Inc. has received regulatory approval from the National Futures Association (NFA) to operate a futures commission merchant (FCM) and provide eligible U.S. customers with cryptocurrency futures trading. Coinbase said its… 
 — Wu Blockchain (@WuBlockchain) August 16, 2023 
 </blockquote> 
 
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 </ul> 
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-expands-perpetual-futures-trading-to-non-us-retail-traders-tbt64442.html">https://thebittimes.com/coinbase-expands-perpetual-futures-trading-to-non-us-retail-traders-tbt64442.html</a> 
</div>

Coinbase Expands Perpetual Futures Trading to Non-US Retail Traders

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