11/24/2020 0 Comments
Citing guidance from the Commodity Futures Trading Commission (CFTC), the organization announced there will be no new margin trades starting 5 pm ET on November 25. It replied that the “product will be chosen offline in December already all existing margin positions have expired.”
“We expect evident, common-sense regulations for margin lending products are desired to preserve and provide peace of mind to U.S. customers,” Chief Legal Officer Paul Grewal wrote in a brief blog post today. “We look forward to working with regulators to achieve this goal.”
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Margin trading is when an investor borrows funds from a third party, in this case Coinbase, to make trades for more than they own.
Coinbase Pro required investors interested in margin trading to be onboarded so they considered the basic concepts and risks. Evidently, it's concerned that's no longer satisfactory to maintain clear of regulators.
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