Coinbase Pro disables margin trading

By Paul Grewal, Chief Legal Officer

In response to new guidance from the Commodity Futures Trading Commission, we are disabling our margin trading product.

Customers currently using margin trading will not be able to place new margin trades starting 2pm PT on November 25. For customers using credit, all open limit orders will be cancelled at this time. The product will be taken offline in December once all existing margin positions have expired.

We believe clear, common sense regulations for margin lending products are needed to protect and provide peace of mind to U.S customers. We look forward to working closely with regulators to achieve this goal.

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Original source: https://blog.coinbase.com/coinbase-pro-disables-margin-trading-42f5862f8a66?source=rss—-c114225aeaf7—4