The U.S. regulator overseeing derivatives markets took action against three firms, one of which had previously employed a lawyer later appointed to lead its technology research division at the CFTC.
The authorization establishes Coinbase as the pioneering crypto-centric platform to provide regulated and leveraged cryptocurrency futures in conjunction with conventional spot trading.
Binance has sought the dismissal of a CFTC lawsuit that accuses the company of providing unlawful commodities trading products to residents of the U.S..
In March, the CFTC filed a lawsuit against Binance, along with its founder Changpeng Zhao and compliance officer Samuel Lim, in a U.S. court located in Illinois. The lawsuit accused the exchange of running a derivatives trading operation within the U.S.
Starting from the summer of 2022, Zhao has been trying to sell off some of his shares in an effort to improve the company's image in the eyes of U.S. regulators.
If the SEC and CFTC are unable to resolve the matter amicably, the U.S. Congress will have to intervene to decide who gets to claim the title of 'best crypto regulation'.
Bitcoin and ether, according to the chairman of the US Commodity Futures Trading Commission (CFTC), are commodities. He described how his organization is collaborating with the Securities and Exchange Commission (SEC) to regulate the crypto industry, emphasizing that 'there are no client protections in the crypto market right now.'