Coinbase gets approval to offer crypto futures to eligible US customers

Coinbase said it’s received regulatory approval to bring federally regulated crypto futures trading to eligible customers in the US, sending shares sharply higher before the opening bell Wednesday.

In June, the US Securities and Exchange Commission filed lawsuits against Binance and Coinbase, saying that the companies were in violation of the the law because they were operating as securities exchanges without registering with the agency.

Coinbase said Wednesday that it had secured regulatory approval from the National Futures Association to operate as a futures commission merchant. The cryptocurrency exchange said that it filed its application with the association in 2021.