Coinbase 的期货策略在法律摊牌中增加赌注

Coinbase 向 CFTC 进行的 BCH、DOGE 和 LTC 期货交易自我认证引发了监管担忧，可能会影响 SEC 诉 Coinbase 案。 Coinbase 的 MTD 认为 SEC 缺乏对加密货币交易所的监管权力，而其向 CFTC 提交的文件造成了进一步的不确定性，并可能影响 SEC 关于 XRP 裁决的计划。

Coinbase's Bold Move Raises Stakes in SEC v. Coinbase Case

Coinbase 的大胆举动提高了 SEC 诉 Coinbase 案的风险

On March 21, cryptocurrency exchange Coinbase sent shockwaves through the financial world by filing self-certifications with the Commodity Futures Trading Commission (CFTC) to offer futures trading for three additional cryptocurrencies: Bitcoin Cash (BCH), Dogecoin (DOGE), and Litecoin (LTC). This strategic move has the potential to significantly impact the ongoing legal battle between Coinbase and the Securities and Exchange Commission (SEC) and could redefine the regulatory landscape for cryptocurrency trading in the United States.

3 月 21 日，加密货币交易所 Coinbase 向美国商品期货交易委员会 (CFTC) 提交自我认证，提供三种额外加密货币的期货交易：比特币现金 (BCH)、狗狗币 (DOGE) 和莱特币 (Litecoin)，这给金融界带来了冲击。 LTC）。这一战略举措有可能对 Coinbase 与美国证券交易委员会 (SEC) 之间正在进行的法律斗争产生重大影响，并可能重新定义美国加密货币交易的监管格局。

Regulatory Turmoil: Coinbase Files for Futures Trading

监管混乱：Coinbase 申请期货交易

Coinbase's filing with the CFTC is a bold attempt to secure regulatory recognition for these three cryptocurrencies as commodities, similar to the status accorded to Bitcoin (BTC). This move effectively challenges the SEC's classification of certain cryptocurrencies as securities, which has been the subject of the ongoing SEC v. Coinbase case.

Coinbase 向 CFTC 提交的文件是一项大胆的尝试，旨在确保监管机构承认这三种加密货币作为商品，类似于给予比特币 (BTC) 的地位。此举实际上挑战了 SEC 将某些加密货币归类为证券的做法，这也是正在进行的 SEC 诉 Coinbase 案件的主题。

Genesis of the Lawsuit: SEC vs. Coinbase

诉讼起源：SEC 诉 Coinbase

In June 2023, the SEC filed a lawsuit against Coinbase, alleging that the exchange had been operating as an unregistered securities exchange, broker, and clearing agency. The SEC also accused Coinbase of offering and selling unregistered securities through its staking-as-a-service program.

2023 年 6 月，SEC 对 Coinbase 提起诉讼，指控该交易所一直作为未注册的证券交易所、经纪人和清算机构运营。 SEC 还指控 Coinbase 通过其质押即服务计划发行和销售未经注册的证券。

Coinbase's Counterattack: Motion to Dismiss

Coinbase的反击：驳回动议

Coinbase responded by filing a Motion to Dismiss in August, arguing that the SEC lacks the authority to regulate cryptocurrency exchanges. The company maintains that cryptocurrencies do not meet the definition of "securities" under federal law.

Coinbase 在 8 月份提出了一份驳回动议作为回应，认为 SEC 缺乏监管加密货币交易的权力。该公司坚称加密货币不符合联邦法律对“证券”的定义。

Ripple's Case: Unexpected Beneficiary

Ripple 案例：意想不到的受益人

Coinbase's filings with the CFTC have also indirectly bolstered Ripple's case against the SEC. In January 2024, Judge Katherine Failla heard oral arguments in the SEC v. Ripple case, where Ripple argued that the sale of XRP tokens did not constitute the sale of securities. Legal experts have observed that Coinbase's more precise definition of an investment contract, as presented in its filings with the CFTC, could strengthen Ripple's position.

Coinbase 向 CFTC 提交的文件也间接支持了 Ripple 对 SEC 的诉讼。 2024 年 1 月，法官 Katherine Failla 听取了 SEC 诉 Ripple 案的口头辩论，Ripple 辩称，出售 XRP 代币并不构成出售证券。法律专家观察到，Coinbase 在向 CFTC 提交的文件中对投资合同的更准确定义可能会增强 Ripple 的地位。

Regulatory Uncertainty: Impact on the Crypto Market

监管不确定性：对加密货币市场的影响

The increased regulatory uncertainty surrounding cryptocurrency exchanges has not deterred investors from embracing Coinbase. In the week ending March 22, Coinbase's stock (COIN) surged by 5.43%, closing the week at $255.51. This indicates that investors remain optimistic about Coinbase's prospects, despite the ongoing legal challenges.

加密货币交易所监管不确定性的增加并没有阻止投资者拥抱 Coinbase。截至 3 月 22 日的一周，Coinbase 的股价 (COIN) 飙升 5.43%，当周收于 255.51 美元。这表明，尽管面临持续的法律挑战，投资者仍对 Coinbase 的前景持乐观态度。

Conclusion: Coinbase Stakes Its Claim

结论：Coinbase 表明了自己的主张

Coinbase's filings with the CFTC are a strategic and potentially game-changing move in the regulatory battle over cryptocurrency trading. The outcome of this case could have far-reaching implications for the cryptocurrency industry as a whole, and Coinbase's actions have positioned the company as a key player in shaping the future of digital asset regulation in the United States.

Coinbase 向美国商品期货交易委员会 (CFTC) 提交的文件是加密货币交易监管斗争中的一项战略举措，可能会改变游戏规则。此案的结果可能会对整个加密货币行业产生深远的影响，Coinbase 的行动使该公司成为塑造美国数字资产监管未来的关键参与者。