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Coinbase Halts Crypto Margin Trading, Citing CFTC Restrictions

Nov. 25, 2020, 1:35 AM

Coinbase, Inc., one of the largest cryptocurrency exchanges in the U.S., is halting margin trading in response to recent restrictions from the main U.S. derivatives regulator.

Margin trading on its Coinbase Pro platform will be turned off effective 5 p.m, EST Wednesday, the company said Tuesday. All open limit orders will be canceled for customers using credit, the company said in a blog post.

“We believe clear, common sense regulations for margin lending products are needed to protect and provide peace of mind to U.S customers,” Coinbase said in the post.

The company cited uncertainty over the Commodity Future Trading ...