The exchange was following the directions from Commodity Futures Trading Commission. The announcement came in on Tuesday stating that merging trading on the Coinbase platform will be disabled. Grewal reported that no new margin trades will be allowed from today November 25 and that purchases that were already made by clients before this will be allowed. This limit usually increases when you buy more crypto on Coinbase. You may be disabled from buying on Coinbase if you have reached your limit. To check to see if you are over your limit, go to your ‘ Account ‘ and then tap ‘ Limits ‘. I transferred my BTC and XRP that I purchased on regular Coinbase to Coinbase Pro a couple months back, and I’m trying to sell my XRP on Coinbase pro, but every time I try and place a sell order the app says trading disabled. This has now been happening for multiple weeks, and I don’t know how to fix it, any advice is much appreciated.
Bitcoin trading disabled3 Reasons Why Coinbase Buys Are Disabled (And How To Fix It)
This all started in March when the regulatory body stated that they would like cryptos to be included in the actual delivery of assets which were bought through other trading methods or through leverage.
Buyers were allowed to buy assets during that period pending a day deadline. Through margin trading, a lot of investors in the stock market can buy more stocks than they can actually afford. Traders bet on the future prices of the assets they are trading in when they trade futures on the market.
If these futures are held by them for a long period of time to settlement, they will physically receive the underlying assets which are directly sent to them. The CFTC guideline was not of this opinion, however, as they clarified that traders dealing in tokens and those that act as facilitators will have any form of control over the use of crypto for margin trading especially when it has been delivered to the trader, and this also includes Coinbase.
Experts say that this may reduce the current price changes, although the effects on the markets are still vastly unknown. Earlier this week, the IRS had sent out notices to several investors stating that they are not reporting their real income. The system misled the IRS to believe that investors were evading taxes, meanwhile, this is not the case. Many traders are trying to sort this out for themselves too. Save my name, email, and website in this browser for the next time I comment.
Sign in Join. Sign in. Log into your account. Sign up. Password recovery. Forgot your password? Being a regulated exchange, they have to be careful about who they let buy crypto. Are buys disabled on your Coinbase account? In order to serve its customers, Coinbase needs to make sure they know who they are. To do this, they carry out standard ID checks for every account opened.
If Coinbase has got chargebacks from your account on previous trades, they may disable your account from buying crypto. In order to get around this, you should change your payment method and contact the Coinbase support to let them know.