May 29, 2024
Coinbase Unveils International Spot Crypto Trading For Institutions
Latest Cryptocurrency News

Coinbase Unveils International Spot Crypto Trading For Institutions

Coinbase is set to enable institutional clients on its international exchange to engage in spot crypto trading from December 14. This development grants institutional investors located outside the United States the opportunity to trade Bitcoin and Ether paired with USD Coin.

Coinbase intends to later broaden access to these services for retail investors, introduce more tokens, and incorporate features to optimize trading strategies and capital efficiency. The exchange recognizes the reservations of certain asset issuers and crypto community members in dealing with U.S. exchanges due to the dynamic and uncertain regulatory environment in the United States.

The announcement coincides with a legal action initiated by the U.S. Securities and Exchange Commission (SEC) against Coinbase in June. The SEC claims that the exchange functions as an unregistered securities exchange, broker, and clearing agency. Similarly, other U.S. exchanges, such as Binance and Kraken, confront regulatory measures from the SEC or the Commodity Futures Trading Commission, or they are subject to criminal charges from the Justice Department.

Coinbase initiated its International Exchange in May, initially offering trading for BTC and ETH perpetual futures for institutional investors. In September, the exchange disclosed plans to expand its services to retail traders. The move to extend spot crypto trading services globally reflects Coinbase’s strategy to cater to a broader audience and navigate regulatory challenges.

In the United States, Coinbase’s Stand With Crypto initiative has been engaging with potential voters ahead of the 2024 elections. On December 11, the organization hosted a presidential forum, where candidates from different political parties discussed crypto and blockchain-related issues, showcasing Coinbase’s active involvement in shaping the regulatory discourse in the crypto space.

Image by Alpha Photo by Flickr

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