Coinbase Launches International Exchange for Crypto Derivatives Amid Rising Tensions with US Regulators

The exchange will let institutional users in eligible jurisdictions outside the US to trade in perpetual futures, Coinbase said.

Coinbase Launches International Exchange for Crypto Derivatives Amid Rising Tensions with US Regulators

Photo Credit: Reuters

Coinbase is currently engaged in a tussle with the US Securities and Exchange Commission

Highlights
  • The digital assets industry is recovering from several blow-ups last year
  • That includes the bankruptcy of Sam Bankman-Fried's crypto exchange FTX
  • Coinbase CEO warned that crypto firms would develop in 'offshore havens'
Advertisement

Coinbase Global launched an international exchange for cryptocurrency derivatives on Tuesday, as the company looks to expand its global footprint amid escalating tensions between the crypto sector and regulators in the United States.

The exchange will let institutional users in eligible jurisdictions outside the U.S. to trade in perpetual futures, Coinbase said.

The digital assets industry is recovering from several blow-ups last year, including the bankruptcy of Sam Bankman-Fried's crypto exchange FTX.

Last month, Coinbase Chief Executive Brian Armstrong had warned that crypto firms would develop in "offshore havens", unless the U.S. and Britain make their rules for the industry much clearer.

Coinbase, engaged in a tussle with the U.S. Securities and Exchange Commission, said on Tuesday that countries around the world were developing themselves as crypto hubs due to a responsible regulatory framework.

"We would like to see the U.S. take a similar approach instead of regulation by enforcement, which has led to a disappointing trend for crypto development in the U.S.," the crypto exchange said.

Separately, another crypto exchange Gemini on Tuesday launched a derivatives platform for trading perpetual futures, outside the U.S. jurisdiction.

© Thomson Reuters 2023


Apple is opening its first stores in India, one in Mumbai and the other in Delhi. What does this mean for Apple customers in India? We discuss this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Xiaomi 13 Ultra to Arrive in Three Additional Colour Options: Report
Formula 1 Miami Grand Prix 2023: Timings in India, How to Watch
Facebook Gadgets360 Twitter Share Tweet Snapchat LinkedIn Reddit Comment google-newsGoogle News

Advertisement

Follow Us
© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »