- 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.
Coinbase Derivatives LLC quietly filed certifications with CFTC to list US regulated futures for Dogecoin, Litecoin and Bitcoin Cash.They filed them on March 7 and surprisingly nobody seemed to notice.
Futures are set to start trading on April 1 if there are no objections from… pic.twitter.com/DYbWjuS6G2
— Summers (@SummersThings) March 20, 2024
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,…
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