Cryptocurrency exchange Coinbase has secured approval from the National Futures Association (NFA) to offer cryptocurrency futures trading to eligible U.S. customers. The approval grants Coinbase the ability to operate a Futures Commission Merchant (FCM) platform and offer Bitcoin and Ether futures contracts through its Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange. The move is seen as a significant step in Coinbase’s commitment to regulatory compliance and expanding its service offerings for institutional investors.
Lobby Group Aims to Clarify Crypto Mining Sustainability
The newly established Digital Energy Council (DEC) in the United States aims to address misconceptions around the sustainability of cryptocurrency mining. The group, launched on August 15, will advocate for policies that encourage the growth of digital asset mining while highlighting its role in the energy ecosystem. DEC’s founder, Thomas Mapes, sees the council as a way to unify the voice of crypto miners in Washington D.C., emphasizing the industry’s contributions to the energy grid during peak demand and excess energy utilization.
Its official 🚨 first member association solely focused on the intersection of digital asset mining and energy ⚡️ policy at the federal level, look forward to working with digital asset and energy leaders check it out: https://t.co/kBFRkXHTNy https://t.co/kzNhtfxYZi
— Tom Mapes (@tommapes88) August 16, 2023
Closure of Binance Connect and Biswap
Binance Connect, the regulated crypto trading arm of Binance, is set to shut down on August 16. The move follows the cessation of supporting card payments services for the platform, as confirmed by Binance spokespersons. The platform, previously known as Bifinity, was introduced in 2022 to facilitate fiat-to-crypto payments and connected crypto businesses with traditional finance systems. Concurrently, decentralized exchange Biswap, built on the BNB Chain, announced the discontinuation of Binance Connect due to the card payments service provider’s closure.