Coinbase seeks the approval of SEC and CFTC for a 24/7 leverage stock exchange

According to Bloomberg, Coinbase is seeking approval from the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to provide a 24/7 leverage stock exchange. The exchange wishes to classify the permanent stock contracts as “securities futures” under existing law. Coinbase has provided non-United States users with up to 20 times the leverage of a permanent stock contract, covering stocks such as Apple, Inweida and Tesla。