Coinbase Applies for FCM Registration

In a tweet, Coinbase stated that it submitted an application to the NFA to register as a futures commission merchant ("FCM") in order to offer cryptocurrency futures and derivatives trading on the company's exchange platforms.

Coinbase's application for FCM registration follows a recent report that the SEC notified Coinbase of the agency's intent to bring an enforcement action against the company should it launch its proposed Coinbase Lend program. In April 2021, Coinbase acquired Skew, a derivatives market analytics company.