Coinbase Global now provides futures trading of XRP & LTC for institutional customers.
Coinbase is a US-based crypto exchange. In the present time, this exchange is struggling badly under the jurisdiction of the US because of a suit, initiated by the country’s securities regulatory body. This crypto exchange provides almost every kind of crypto service and also its services are available in other non-US countries via global subsidiaries.
On 1 August 2023, Coinbase International Exchange, a global subsidiary of the Coinbase exchange, announced that it will now support Litecoin (LTC) & Ripple (XRP) futures trading for customers.
Earlier this, in June month the exchange re-listed the XRP coin on the Coinbase exchange, following the victory of Ripple in the XRP lawsuit against the United States Securities Exchange Commission (SEC).
Here people need to understand that Coinbase International Exchange doesn’t provide services for US crypto Investors. This exchange provides services offline & online both for only non-US international Institutional investors.
Coinbase & Legal Hurdles
In early June of this year, Coinbase received legal action from the US SEC body over alleged unregistered securities offerings and running an unregistered national securities exchange.
Just a few days ago, Coinbase CEO Brian Armstrong disclosed that the SEC agency asked the Coinbase team to delist all the crypto assets from the platform except Bitcoin, just before the lawsuit action.
Coinbase CEO said that the Coinbase team denied the SEC’s order directly, as the SEC body failed to provide any clarity over the laws to explain how they considered that trading crypto assets on the Coinbase exchange were securities.
According to Armstrong, the SEC body wants to control & destroy the whole crypto sector in the US jurisdiction.
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