👀 Watchlist Winners: Copy Legendary Investors' Portfolios in One ClickSee Undervalued Stocks

Coinbase’s Gamble on Futures Contracts for Altcoins Raises SEC Eyebrows

Published 03/21/2024, 05:14 PM
Updated 03/21/2024, 05:15 PM
Coinbase’s Gamble on Futures Contracts for Altcoins Raises SEC Eyebrows
LTC/USD
-
DOGE/USD
-
COIN
-

  • Coinbase (NASDAQ:COIN) submits a letter to the CFTC detailing futures contracts for Dogecoin, Litecoin and Bitcoin Cash.
  • The contracts, if approved, will allow traders to speculate on crypto prices without owning the underlying assets.
  • Analysts speculate on SEC response suggesting Coinbase may challenge securities classification with this move.

A member of the crypto community pointed out that Coinbase has formally submitted a proposal to the Commodity Futures Trading Commission (CFTC) regarding the introduction of futures contracts for Dogecoin, Litecoin, and Bitcoin Cash.

Directed to CFTC Secretary Christopher Kirkpatrick in a letter dated March 7, Coinbase outlined comprehensive details about these proposed contracts, including their sizes, settlement methods, and overall structure.

These futures contracts, if approved,…

The post Coinbase’s Gamble on Futures Contracts for Altcoins Raises SEC Eyebrows appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.