Coinbase To Bring Global Crypto Derivatives To US Institutions After CFTC Nod
The CFTC has opened a regulated route for US clients to access global crypto derivatives through CFTC-registered exchanges. Coinbase said its subsidiary, Coinbase Financial Markets, is the first US-regulated Futures Commission Merchant to let domestic customers trade global crypto options and perpetual futures, starting with institutional access to Deribit options and with perps and broader access planned later. The move removes the need for offshore entities that previously added cost and counterparty risk. The CFTC also said certain crypto perpetual contracts can be treated as “foreign futures” and issued a non-action letter allowing Coinbase to post customer-owned crypto and stablecoins with a foreign broker for margin under specified conditions. In a related move, the agency approved Kalshi’s BTCPERP contract as a futures product. Overall, the CFTC framed the decision as a way to bring crypto perpetuals onshore while preserving customer protections and market integrity.
