CFTC Approval 'Opens Many Doors,' Top Coinbase Exec Says

Coinbase plans to relaunch Coinbase Pro by year-end, offering trading in spot, futures, perpetuals, options, and equities. The company completed its Deribit integration, creating Coinbase Global Exchange, which connects U.S. and global crypto derivatives into a single liquidity pool. U.S. institutional clients can trade Deribit options and perpetual futures through Coinbase Prime, with retail access expected later this year. Coinbase acquired Deribit for about $2.9 billion in August 2025.

The Independent Community Bankers of America (ICBA) sued the OCC to block national trust charters for crypto firms, including Coinbase and Ripple, arguing they bypass banking regulations. The OCC approved 21 charters under the Trump administration, with 13 for crypto companies. ICBA claims these charters lack deposit insurance and capital standards, while the OCC sees them as promoting competition. Coinbase's conditional approval does not allow retail deposits.

Coinbase has added U.S. stock options to its platform, allowing eligible customers to trade long call and put contracts. This move aligns with its 'Everything Exchange' strategy, aiming to consolidate equities, cryptocurrencies, and derivatives in one interface. The service operates through Coinbase Capital Markets, a FINRA and SIPC member, with clearing provided by Apex Clearing Corporation.

FinCEN withdrew proposed rules requiring banks and exchanges to report crypto mixing and self-custody wallet transactions. Coinbase (COIN) rose 3% to $188, while Bitcoin (BTC) fell 1% to $85,690. FinCEN cited privacy concerns and potential impacts on legitimate activities. Existing anti-money-laundering rules remain unchanged.

Coinbase's Ryan VanGrack discusses the impact of CFTC approval for its clearinghouse and SEC's proposed custody rules, which may facilitate Bitcoin ownership by investment advisors. He highlights the potential for institutional capital inflow due to clearer regulations and the role of tokenization in reducing intermediaries. VanGrack also notes the acceleration of traditional finance's push into Bitcoin and digital assets.

The CFTC proposed rules to regulate crypto leverage trading, creating a new registration category for exchanges. Chairman Michael Selig emphasized consumer protections. The 60-day comment period begins Monday. The proposal follows legislative setbacks and aims to integrate crypto into the agency's regulatory framework. Exchanges like Coinbase, Crypto.com, and Robinhood offer such trading.