Coinbase launches regulated crypto futures services for US retail traders

Coinbase Advanced allows retail traders in the United States access to regulated crypto futures contracts four months after Coinbase Financial Markets (CFM) protected approval to run a Futures Commission Merchant (FCM) entity.On Aug. 17, CFM secured regulatory approval from the National Futures Association (NFA), a Commodity Futures Trading Commission-designated self-regulatory organization, to run an FCM and deal crypto futures services to eligible U.S. traders. U.S. citizens with an active Coinbase account for area trading are qualified to create an FCM futures account.The services have actually been launched on the web version and will quickly be readily available on mobile devices.Related: Coinbase hoses down reports of weekly withdrawal limitations on BitcoinCoinbases decision to release crypto futures services seemed natural as the exchange saw a sharp decrease in spot trading volume this year compared to 2022. An analysis from digital property information service provider CCData revealed that Coinbase signed up around $76 billion in area trading volume– a 52% drop in spot trading for Q3 2023 compared to the very same duration in 2022.