Coinbase Pro left clients without margin trading
Coinbase Pro Disables Margin Trading
New limit orders will not be accepted from 25 November
Coinbase Custody Adds 37 New Coins To Listing
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US Cryptocurrency Exchange Goes To Disable Margin Trading For Coinbase Pro Clients
Margin trading will be stopped in December
In response to new recommendations from the Commodity Futures Trading Commission, cryptocurrency exchange Coinbase Pro is disabling the margin trading feature. This was announced by the General Counsel of the company Paul Greval.
Clients currently using margin trading will not be able to place new margin trades starting at 2:00 PM PT on November 25th. For clients using leverage, all open limit orders will be canceled. The service will be permanently disabled in December when all existing margin positions expire.
“We believe that clear margin lending rules are essential to protect and provide peace of mind for US customers. We look forward to working closely with regulators to achieve this goal, ”Greval said..
Investments on Coinbase are constantly growing
More recently, BeInCrypto reported that institutional investments in bitcoin increased 3.5 times this year and exceeded $ 20 billion.At the same time, more than $ 14 billion were transferred to the exchange starting in April of this year, that is, at the height of the crisis caused by the epidemic coronavirus.
Coinbase Custody will also add 37 new cryptocurrencies in the near future.
Coinbase Pro Full Tutorial: Cryptocurrency Trading for Beginners
The exchange announced this on its official blog. The number of new tokens includes not only the assets of the decentralized finance (DeFi) market, but also Bitcoin analogues in the Ethereum network. As part of the development of the Coinbase Custody service, the platform is also exploring the possibilities of serving the growing number of institutional clients in the Asia-Pacific region..
Despite the extensive list of assets, the exchange emphasizes that they all undergo a serious test. In some cases, “regulatory approval in some jurisdictions” may be required.
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