• Coinbase has received approval from the United States National Futures Association to offer investments in crypto futures.
• The SEC is likely to approve multiple applications for Ether futures exchange-traded funds simultaneously.
• U.S. Judge Analisa Torres has granted a request from the SEC to file a motion for leave to file an interlocutory appeal in its case against Ripple Labs.
Coinbase Receives Approval for Crypto Futures
Coinbase has received approval from the United States National Futures Association (NFA) to offer investments in crypto futures contracts, enabling customers to trade Bitcoin (BTC) and Ether (ETH). This move follows news that the U.S. Securities and Exchange Commission (SEC) is likely to approve multiple applications for Ether futures exchange-traded funds (ETFs).
Valkyrie Files Application for Cryptocurrency ETF
Asset management firm Valkyrie has also joined the list of companies filing for crypto ETFs and its application proposes not directly investing in Ether but purchasing several ETH futures contracts instead. These are limited to 8,000 contracts per month as per position limits established by the Chicago Mercantile Exchange.
SEC Allowed To Appeal In Ripple Case
U.S. Judge Analisa Torres has granted a request from the SEC to file a motion for leave to file an interlocutory appeal in its case against Ripple Labs, despite opposition from Ripple’s lawyers who argued that an appeal requires a pure question of law and that no new legal issues needing review were raised by the SEC’s claim of incorrect court ruling.
Singapore Gets Regulatory Framework For Stablecoins
The Monetary Authority of Singapore (MAS) has released a revised regulatory framework aiming at ensuring stability for single-currency stablecoins regulated within its jurisdiction, including those issued by MAS-licensed issuers or designated payment service providers as well as those approved under MAS’ Digital Full Bank Framework or Digital Wholesale Banking Framework.
Crypto investors could soon have more options when it comes to derivatives trading with Coinbase now able launch BTC and ETH futures contracts after receiving NFA approval, while other firms have filed applications for cryptocurrency ETFs which may be approved by the SEC soon too; all this amidst ongoing legal proceedings between Ripple Labs and US regulators over XRP token status rulings..