- On June 21, 2023, the Exchange reached an agreement with Coinbase, Inc.
- Coinbase is an operator of a United States-based spot trading platform for Bitcoin.
- Coinbase represents a substantial portion of US-based spot trading platform for Bitcoin.
- Coinbase represents a substantial portion of US-based and USD denominated Bitcoin trading.
- The agreement is for a surveillance-sharing agreement called “Spot BTC SSA”.
- An associated term sheet was executed for the agreement.
The Exchange and Coinbase, Inc. have reached an agreement to enter into a surveillance-sharing agreement for Bitcoin trading. This agreement is significant as Coinbase operates a large portion of USD-denominated Bitcoin trading in the United States.
The agreement, called “Spot BTC SSA,” includes terms that outline the sharing of surveillance data between the Exchange and Coinbase. The data shared will help in monitoring and regulating Bitcoin trading activities within the United States.
Importance of Coinbase
Given that Coinbase represents a substantial portion of US-based spot trading platforms for Bitcoin, this agreement holds great importance. Coinbase’s status as a major player in the industry makes its cooperation vital for effective surveillance and regulation of Bitcoin trading in the country.
Associated Term Sheet
The filing also mentioned the execution of an associated term sheet along with the agreement. While specifics of the term sheet were not provided, it is likely to contain additional details regarding the implementation and scope of the surveillance-sharing agreement between the Exchange and Coinbase.
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