Coinbase gets Bermuda Monetary Authority green light

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2019/01/coinbase.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Coinbase crypto exchange expands custodial services in Asia market" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2019/01/coinbase.jpg 730w, https://www.leaprate.com/wp-content/uploads/2019/01/coinbase-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2019/01/coinbase-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2019/01/coinbase-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2019/01/coinbase-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2019/01/coinbase-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>This news follows the May announcement regarding the company’s launch of the Coinbase International Exchange. This is a non-US exchange with a class F licence from the BMA.</p>
<p>Experts believe this regulatory approval will open doors for crypto asset trading. This would be a positive move for the industry at a time when financial regulations are increasingly scrutinising cryptocurrency exchanges.</p>
<p>In its Thursday blog post, <a href="https://www.leaprate.com/forex/technology/coinbase-advanced-partners-with-coinrule-for-ai-automated-trading/" target="_blank" rel="noopener">Coinbase</a> stated that the global crypto derivatives market represents approximately 75% of the worldwide crypto trading volume. This is indicative of the demand to trade these assets.</p>
<p>Financially unsound practices make this a risky trade option. However, Coinbase feels it complies with the transparency and security requirements and gives retail traders a safe place to do so. The company’s announcement maintained:</p>
<blockquote><p>Coinbase International Exchange follows the robust regulatory framework established by the BMA, maintaining high standards of risk management, compliance and user protections.</p></blockquote>
<p>It also said that the Coinbase International Exchange futures contracts centre around strict compliance standards and have already experienced a notional trading volume of $5.5bn as of Q2. These figures alone are enough to make this BMA approval a significant milestone in cryptocurrency circles.</p>
<hr />
<p><a href="https://finaffiliates.us20.list-manage.com/subscribe/post?u=e0dd4d77c259eb270712a4eeb&amp;id=fd200b8f75&amp;v_id=4291&amp;f_id=00946ce6f0" target="_blank" rel="noopener"><em>Don’t miss out the latest news, subscribe to LeapRate’s newsletter</em></a></p>
<hr />
<p>The post <a rel="nofollow" href="https://www.leaprate.com/breaking/coinbase-gets-bermuda-monetary-authority-green-light/">Coinbase gets Bermuda Monetary Authority green light</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>