• Latest
  • Trending
  • All
Coinbase Launches International Exchange with BTC and ETH Futures for Non-US Institutional Clients as SEC Crackdown Continues

Coinbase Launches International Exchange with BTC and ETH Futures for Non-US Institutional Clients as SEC Crackdown Continues

May 3, 2023
This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023
Ethereum Open Interest On Deribit At A 3-Year High

Ethereum Open Interest On Deribit At A 3-Year High

June 1, 2023
Bitcoin logs monthly loss, Ether drops, U.S. equities slide

Bitcoin logs monthly loss, Ether drops, U.S. equities slide

June 1, 2023
Hong Kong Has Ambitions to Build Crypto Hub But Hasn’t Landed Big Commitments

Hong Kong Has Ambitions to Build Crypto Hub But Hasn’t Landed Big Commitments

June 1, 2023
No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts

June 1, 2023
Blockchain Analytics Firm Nansen Cuts Workforce by 30%

Blockchain Analytics Firm Nansen Cuts Workforce by 30%

June 1, 2023
Fancy Crypto – Cryptocurrency Mining Platform Now Gives Users 7 Different Ways To Start Mining Crypto…

Fancy Crypto – Cryptocurrency Mining Platform Now Gives Users 7 Different Ways To Start Mining Crypto…

May 31, 2023
Binance Coin (BNB) and Dogecoin (DOGE) Charts Show Red; Investors Looking To Buy into Uwerx (WERX) Early

Binance Coin (BNB) and Dogecoin (DOGE) Charts Show Red; Investors Looking To Buy into Uwerx (WERX) Early

May 31, 2023
An update on Devcon 6, and something new…

An update on Devcon 6, and something new…

May 31, 2023
Crypto Trio Shaking The Market: Polkadot, Litecoin, And Caged Beasts Rally For Success

Crypto Trio Shaking The Market: Polkadot, Litecoin, And Caged Beasts Rally For Success

May 31, 2023
NVIDIA Impact AI Tokens SingularityNET, Render

NVIDIA Impact AI Tokens SingularityNET, Render

May 31, 2023
Thursday, June 1, 2023
DLT EMPIRE
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market
No Result
View All Result
DLT EMPIRE
No Result
View All Result
Home Blockchain

Coinbase Launches International Exchange with BTC and ETH Futures for Non-US Institutional Clients as SEC Crackdown Continues

by Cuevas Antonio
May 3, 2023
in Blockchain
0
Coinbase Launches International Exchange with BTC and ETH Futures for Non-US Institutional Clients as SEC Crackdown Continues
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


The Coinbase International Exchange will provide institutional clients outside of the US with BTC and ETH contracts and up to 5x in leverage.

Crypto exchange Coinbase has launched an international exchange to offer its teeming institutional clients an expanded portfolio of crypto services. According to the company, the new Coinbase International Exchange lists contracts for Bitcoin (BTC) and Ether (ETH) perpetual futures.

In an official announcement, Coinbase said it received a regulatory license from the Bermuda Monetary Authority (BMA). The company said Coinbase International Exchange’s perpetual futures trading is available in eligible jurisdictions outside of the US. However, it did not specify conditions for eligibility or countries where institutional clients can trade.

The official announcement promises that the international exchange offers secure customer protection, high-performance trading technology, and a strong risk management framework to protect clients. Coinbases says customers can enjoy round-the-clock risk management, liquidity from external market makers, and flexible margin requirements. Other features include a liquidation framework that meets compliance standards, and an exchange with enough capital to withstand volatile market events.

Coinbase says the contracts will initially allow up to 5x in leverage, and settle all trading in USDC without any on-ramps. Perpetual contracts, unlike traditional futures, allow traders to hold their positions as long as they would like. These futures have no expiration and therefore do not require traders to execute a deal at a particular time.

Coinbase International Exchange Not Open to US Clients

The new Coinbase International Exchange is not available in the US. According to Coinbase’s announcement, the US’ unfavorable crypto clime is to blame:

“Rest assured that Coinbase is committed to the US, but countries around the world are increasingly moving forward with responsible crypto-forward regulatory frameworks to strategically position themselves as crypto hubs. We would like to see the US take a similar approach instead of regulation by enforcement which has led to a disappointing trend for crypto development in the US.”

The US Securities and Exchange Commission (SEC) has been tough on crypto business amid a wide and continuous crackdown. In March, Coinbase received a Wells notice from the agency, warning of potential charges. The notice said the SEC identified possible violations and may bring official action.

Coinbase, in an official response, said it was “disappointed” at the development, specifying that the notice does not contain enough information for a proper response. The exchange also said that the notice comes after “multiple proposals to the SEC” seeking information and clarity on registration and related matters. Coinbase said the SEC did not respond to any of its proposals.

According to the exchange in the statement, the SEC asked for a possible resolution after an investigation last year. Following the request, Coinbase said it spent millions of dollars creating two different registration models since there was no existing way to register a crypto exchange. The SEC did not respond. Coinbase also asked the SEC to raise questions about any asset on its platform. The SEC also did not specify. Coinbase said it met with the SEC at least 30 times over a 9-month period, to no avail.

next

Blockchain News, Cryptocurrency news, News

Tolu Ajiboye

Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.

Thank you!

You have successfully joined our subscriber list.

Subscribe to our telegram channel.
Join



Source link

Tags: BTCClientsCoinbasecontinuesCrackdownETHExchangeFuturesInstitutionalInternationalLaunchesNonUSSEC
Share196Tweet123Share49
Cuevas Antonio

Cuevas Antonio

  • Trending
  • Comments
  • Latest
Rise of AI-Powered Cheating: Challenges and Solutions for Educators

Rise of AI-Powered Cheating: Challenges and Solutions for Educators

March 20, 2023
Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

Former FTX US President Reportedly Quit After ‘Protracted Disagreement’ With Bankman-Fried

April 10, 2023
What is Cloud Mining and How Does it Work?

What is Cloud Mining and How Does it Work?

April 10, 2023
Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

Silicon Valley Bank: Bitcoin investors in panic as market goes sideways

0
24 Crypto Terms You Should Know

24 Crypto Terms You Should Know

0
Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

Bitcoin, Ethereum, Dogecoin Rally As Team Biden Cushions SVB Blow

0
This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023
Ethereum Open Interest On Deribit At A 3-Year High

Ethereum Open Interest On Deribit At A 3-Year High

June 1, 2023

Recent News

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

This Man Is Accused Of Running A Secret Crypto Mining Operation In A High School Crawlspace » TwistedSifter

June 1, 2023
BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

BIT Mining Limited: Selling Ethereum And Holding Dogecoin (NYSE:BTCM)

June 1, 2023
Ethereum Open Interest On Deribit At A 3-Year High

Ethereum Open Interest On Deribit At A 3-Year High

June 1, 2023

Categories

  • Altcoin
  • Altcoin News
  • Altcoins
  • Artificial Intelligence
  • Bitcoin
  • Blockchain
  • Business
  • Crypto Mining
  • Cryptocurrencies
  • Culture
  • Dogecoin
  • Economy
  • Education
  • Ethereum
  • Featured
  • Governance
  • Litecoin
  • Market
  • News
  • Uncategorized

Converter

Cryptocurrency Prices by Coinlib

© 2023 Dlt Empire | All Rights Reserved

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Blockchain
  • Altcoin
  • Crypto Mining
  • Dogecoin
  • Litecoin
  • Market

© 2023 Dlt Empire | All Rights Reserved