[Coinbase Approved by CFTC to Operate Derivatives Clearing Organization] According to The Block, Coinbase Clearing LLC has been approved by the U.S. CFTC to register as a Derivatives Clearing Organization (DCO), enabling a fully self-operated closed-loop system for brokerage, listing, and clearing. This approval only covers fully collateralized futures, options, and swap products, while leveraged derivatives still rely on third-party clearing. The company's legal director stated that the new clearinghouse uses USDC as collateral and supports 24-hour settlement.