According to CoinMeta, and as reported by Bloomberg, Coinbase is seeking approval from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to offer 24/7 leveraged stock trading. The exchange hopes to classify stock perpetual contracts as "securities futures" under existing laws. Coinbase has already been providing stock perpetual contracts with up to 20x leverage to non-U.S. users, covering stocks such as Apple, NVIDIA, and Tesla.