JUST IN: Coinbase Receives Regulatory Approval for its Futures Platform

Coinbase International Exchange has received regulatory approval from the Bermuda Monetary Authority (BMA) to enable perpetual futures trading for eligible retail customers outside the United States.

Coinbase International Exchange, a new platform for customers outside the US, has received regulatory approval that will enable it to offer continuous futures trading for retail investors.

The exchange has managed to obtain permission from the Bermuda Monetary Authority (BMA) to extend its class F licence. The global futures market represents almost 80% of the entire crypto market, and leveraged transactions on futures and other derivatives often underlie market volatility.

According to research firm CCData, crypto derivatives transaction volumes totaled approximately $1.85 trillion globally in July.

Futures exchange Coinbase International, which launched in May, comes at a time when various crypto exchanges and services, such as Bittrex and Binance, are facing increased regulatory scrutiny and uncertainty in the United States.

Coinbase CEO Brian Armstrong has also expressed frustration with US regulators and has previously hinted at the possibility of relocating the company if the situation does not improve, citing the lack of clear and consistent rules for the industry.

*This is not investment advice.