Coinbase Will Suspend All Margin Trading Tomorrow, Citing CFTC Guidance
Coinbase plans to suspend all margin trading contracts effective tomorrow, and will end the service entirely by next month.
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Cryptocurrency exchange Coinbase is disabling its margin trading product in order to comply with the new rules set by the Commodity Futures Trading Commission (CFTC). CFTC’s Rules Affecting Margin Trading Offerings Coinbase’s chief legal officer, Paul Grewal, explained in a blog post on Tuesday: In response to new guidance from the Commodity Futures Trading Commission, we are disabling our margin trading product. Starting on Wednesday, Nov. 25 at 2 p.m. PT, customers currently using Coinbase’s margin trading will not be able to place new margin trades and all open limit....
The exchange said the move was in response to “new guidance from the Commodity Futures Trading Commission.” U.S. crypto exchange Coinbase Pro announced today that customers would not be able to use margin trading on the platform beginning on Wednesday.According to the Coinbase blog, Chief Legal Officer Paul Grewal said that no new margin trades would be allowed starting on Nov. 25 at 2:00 PST. The exchange stated that it would take the product offline in December “once all existing margin positions have expired.”“We believe clear, common sense regulations for margin lending products are....
The Commodity Futures Trading Commission (CFTC) has fined cryptocurrency exchange Coinbase $6.5 million “for reckless false, misleading, or inaccurate reporting as well as wash trading.” This enforcement action came as Coinbase is getting ready for its initial public offering (IPO) on Nasdaq. CFTC Takes Action Against Coinbase The CFTC announced Friday that it has issued an order settling charges against cryptocurrency exchange operator Coinbase Inc. “for reckless false, misleading, or inaccurate reporting as well as wash trading.” The regulator wrote: The order....
The Commodity Futures Trading Commission (CFTC) has imposed a $6.5 million fine on Coinbase. The regulator is accusing the Exchange of false or misleading reporting and wash trading, per an official statement. Between 2015 and 2018, according to the CFTC order, a former Coinbase employee engaged in the referenced misconduct on the GDAX platform. The […]
Coinbase said it will suspend trading of XRP, the cryptocurrency at the heart of an SEC lawsuit against Ripple Labs.