Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Crypto exchange Coinbase will pay $6.5 million in a settlement with the Commodity Futures Trading Commission (CFTC) over allegations the exchange “self-traded” digital assets.
Will Coinbase's new CFTC merchant status bolster ether as a commodity?
The firm’s new futures commission merchant status at the CFTC may undermine the other U.S. markets regulator – the SEC – and bolster the case for ether as a commodity. Coinbase Inc. quietly cleared a major hurdle for getting regulated in the U.S., though it's not with the Securities and Exchange Commission. (CoinDesk)
What is Coinbase's penalty for violating CFTC regulations?
The order requires Coinbase to pay a civil monetary penalty of $6.5 million and to cease and desist from any further violations of the Commodity Exchange Act or CFTC regulations, as charged.
