Coinbase Global has received approval from the National Futures Association to offer cryptocurrency futures to retail customers in the United States. This regulatory success comes amid a legal battle with the Securities and Exchange Commission. The company has been critical of the SEC, which sued Coinbase for alleged illegal operation due to its failure to register as an exchange. Coinbase's CEO, Brian Armstrong, has expressed concerns that the SEC's approach could hinder innovation and drive U.S. crypto companies offshore. The NFA approval, granted after nearly two years of application, opens the door for Coinbase to tap into the largely untapped cryptocurrency derivatives market, representing a significant portion of the global crypto market's activity and volatility. In July, the global crypto derivatives trading volumes reached around $1.85 trillion, according to CCData, a research firm.