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Coinbase Derivatives Plans To Launch Futures Trading for Dogecoin in Letter to CFTC

Coinbase Derivatives, a popular cryptocurrency exchange, announced its plans to introduce futures trading for Dogecoin, Litecoin and Bitcoin Cash on April 1. On March 7, Coinbase submitted three separate letters to the Commodities Futures Trading Commission (CFTC) outlining its proposal for monthly cash-settled futures contracts for Dogecoin, Litecoin, and Bitcoin Cash. Coinbase intends to utilize the self-certification route under CFTC Regulation 40.2(a) to list these futures contracts. The classification of these cryptocurrencies as commodities raises intriguing regulatory questions since they all derive from Bitcoin, which the Securities and Exchange Commission (SEC) recognizes as a commodity.

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