Coinbase Derivatives, the regulated futures arm of crypto exchange Coinbase, is preparing to launch 24/7 trading for bitcoin (BTC) and ether (ETH) futures.

The acting Chair of the U.S. Securities and Exchange Commission (SEC) Mark Uyeda has directed the agency’s staff to reconsider a proposed rule that would have broadened the definition of an “exchange.”

The U.S. Department of Housing and Urban Development has hedged internal discussions about the potential adoption of cryptocurrency and blockchain technologies in some of its operations, ProPublica reported.

Top stories in the Crypto Roundup today:

• Coinbase Derivatives to Launch 24/7 Bitcoin, Ether Futures Trading
• SEC Acting Chair Directs Staff to Reconsider Proposed "Exchange" Definition Rule That Would Impact Crypto Projects
• U.S. Department of Housing Reportedly Explores Cryptocurrency and Blockchain Integration

Coinbase Derivatives to Launch 24/7 Bitcoin, Ether Futures Trading

Coinbase Derivatives, the regulated futures arm of crypto exchange Coinbase, is preparing to launch 24/7 trading for bitcoin (BTC) and ether (ETH) futures.

The exchange will offer both large and nano-sized contracts to cater to retail and institutional traders. Currently, traditional futures trading in the U.S. is limited to fixed hours, creating a gap that prevents traders from reacting to market-moving events in real time, which Coinbase argues forces market participants into the sidelines during critical moments.

Alongside the 24/7 offering, Coinbase is developing perpetual-style futures with long-dated expirations. Futures trading dominates the global crypto market, accounting for 75% of total trading volume, according to Coinbase.

The new futures contracts will be cleared through Nodal Clear, a derivatives clearing organization regulated by the U.S. Commodity Futures Trading Commission (CFTC).

SEC Acting Chair Directs Staff to Reconsider Proposed "Exchange" Definition Rule That Would Impact Crypto Projects

The acting Chair of the U.S. Securities and Exchange Commission (SEC) Mark Uyeda has directed the agency’s staff to reconsider a proposed rule that would have broadened the definition of an “exchange.”

The rule, Regulation ATS, change would potentially subject decentralized cryptocurrency projects to stringent regulatory oversight. Under Gary Gensler, the rule would include “communication protocols” within the definition of an exchange, which Uyeda said was vague and overreaching.

"Effectively, the vastly expanded definition of an 'exchange' would have picked up various protocols used with respect to crypto assets. In my view, it was a mistake for the Commission to link together regulation of the Treasury markets with a heavy-handed attempt to tamp down the crypto market,” Uyeda said.

He added that in light of the “significant negative public comment received on the definition of exchange with respect to crypto” he has asked SEC staff for options on dropping that part of the proposal.

U.S. Department of Housing Reportedly Explores Cryptocurrency and Blockchain Integration

The U.S. Department of Housing and Urban Development has hedged internal discussions about the potential adoption of cryptocurrency and blockchain technologies in some of its operations, ProPublica reported.

HUD officials have reportedly convened meetings to explore the use of blockchain technology to monitor  grants. Two cited officials suggested the initiative could serve as a pilot for broader cryptocurrency adoption across the federal government.

The meetings also reportedly discussed the use of a stablecoin, with one proposal for paying HUD grantees in crypto also being floated. A HUD spokesperson, however, said the department has “no plan for the use or implementation of any cryptocurrency, blockchain, stablecoin, etc.”

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