The Commodity Futures Trading Commission of the United States is looking into this.
#Eight hundred and eighty thousand#The collateral#The derivatives market#The Furies promise#Coins are minted.USD
Stay focused.
The CFTC is suing Coinbase over the issue of a futures contract with USDC cited as collateral for the contract.
Scene of the crime.
The CFTC is a regulatory body that deals with derivatives markets, while Coinbase is the platform for digital asset providers and USDC are digital assets used in the digital asset ecosystem. Futures contracts are instruments tied to future delivery or value of an asset, so designating USDC as collateral is therefore a point likely to be scrutinized by regulators.
Effects to be monitored.
This case illustrates that the disadvantages of a digital asset platform may not be limited to providing general trading services, but also cover derivative contracts and underlying mechanisms. What follows is the scope of CFTC's claims and Coinbase's policy on Issue USDC.
It's a warning.
This article is for informational purposes only, not investment advice. High volatility digital assets please use intuition
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