Coinbase Files for Domestic Stock Perps Under Security Futures: CME Suit Clouds Launch

Coinbase has filed with the SEC to register single-stock perpetual futures for American retail investors, marking the first time the exchange is pursuing a U.S. offering of that product type through a security-futures framework rather than only the CFTC route. The company’s Sep. 3 disclosure confirmed two notices: Form 1-N from Coinbase Derivatives, LLC and Form BD-N from Coinbase Financial Markets, Inc., both dated Sep. 1, 2026. The filing relies on Section 6(g) of the Exchange Act under the Commodity Futures Modernization Act of 2000, which establishes joint SEC-CFTC oversight. The move collides with CME Group’s ongoing federal challenge to CFTC-listed crypto perps, after CME sued the CFTC on June 18, 2026.