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  /  All News   /  Coinbase Crypto News: SEC Filings Put Coinbase’s US Stock Perpetuals on a Regulatory Path

Coinbase Crypto News: SEC Filings Put Coinbase’s US Stock Perpetuals on a Regulatory Path

  Abstract financial filing and regulatory pathways for Coinbase stock perpetual futures

In this Coinbase crypto news update, Coinbase filed notice registrations with the SEC on September 1 to offer single-stock perpetual futures to US investors. The filings open a regulatory pathway only. No approval or launch timeline exists yet.

The move would extend Coinbase’s crypto-perpetuals business to individual equities: derivatives with no expiration date that let traders bet on stock prices (like Apple or Nvidia) without owning shares, mirroring the always-on model common on offshore crypto venues.

This follows Coinbase’s August launch of tokenized stock trading outside the US, along with options and RWA perpetuals tied to equity indices. Regulators are still determining how perpetual contracts should be classified under US law: a question underlying this and other pending filings.

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Coinbase Crypto News: How Coinbase’s Two Filings Could Enable US Stock Perpetuals

Two Coinbase entities filed: Coinbase Derivatives, LLC filed a Form 1-N (the entity behind its existing futures products), while Coinbase Financial Markets, Inc. filed a Form BD-N to register as a security futures product broker-dealer under Securities Exchange Act Section 15(b)(11).

Neither filing guarantees a set launch timeline. Notice registrations only open the door, with final approval resting with regulators. Coinbase said it plans to work with both the SEC and CFTC to bring more products onshore, framing this as one step in a longer process rather than a finished launch.

The dual-agency structure matters because equity perpetuals must satisfy both securities and commodities regulators: a coordination hurdle that has slowed similar products before.

Coinbase hasn’t disclosed which stocks would qualify, leverage levels, margin/funding mechanics, or trading hours.

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Why the Perpetual-Futures Classification Is Still Contested

This Coinbase crypto news hasn’t gone unchallenged. In May, the CFTC approved Kalshi to offer Bitcoin perpetual futures: the first time the product cleared for the US market – a decision CME Group said it would challenge in court, arguing that perpetuals should be regulated as swaps rather than futures.

CME CEO Terrence Duffy has argued that the company’s exclusive licensing deals with benchmark providers mean any perpetual contract tied to those benchmarks still has to run through CME, according to the primary reporting. CFTC Chair Michael Selig has defended the original Kalshi approval as a way to bring regulated, expiration-free products onshore under US oversight rather than leaving that volume on offshore platforms.

Coinbase crypto news: Terrence Duffy in a dark suit and tie gesturing during a presentation with a chart in the background
Photo by RDNE Stock project on Pexels

That classification dispute (futures versus swaps) is not specific to crypto. It applies to any perpetual structure, including the equity contracts Coinbase is now proposing, and its resolution in court could shape what conditions regulators eventually attach to single-stock perpetuals if they move toward approval.

What a US Launch Would Mean for Traders and Rivals

If approved, single-stock perpetuals would extend Coinbase’s US derivatives lineup from crypto-only contracts toward individual equities, giving traders a way to gain leveraged, long or short exposure without holding shares outright. But the mechanics that would actually determine risk like leverage caps, margin requirements, funding rates, and eligible customer base.

Remain undisclosed, and the primary source confirms none of them.

Close-up of a financial trading terminal screen showing a real-time order book with prices and institution names
Photo by Romulo Queiroz on Pexels

Coinbase’s broader strategy already includes non-US tokenized stocks, options trading, equity-index perpetuals, and pre-IPO perpetual futures. Basically testing crypto-native trading formats against traditional equity products. Any competitive pressure on listed options venues or incumbent exchanges remains prospective, since the product isn’t approved and no launch date exists.
This mirrors Coinbase’s UK stock-trading push under FCA and MiFID rules: building parallel regulated pathways into equities across jurisdictions rather than one unified product.

The post Coinbase Crypto News: SEC Filings Put Coinbase’s US Stock Perpetuals on a Regulatory Path appeared first on Tokenist.

   

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