U.S. CFTC rebuffs CME legal stance in consequential fight over perpetual futures
The future of perps in the U.S. may be at stake as the CFTC argues that CME hasn't shown the new policy is hurting it after the agency OK'd its first bitcoin perp.
AI summary
The U.S. CFTC pushed back on CME's legal arguments in a dispute over perpetual futures, arguing CME hasn't demonstrated harm from a new policy after the agency approved its first bitcoin perpetual contract. The outcome could determine whether perps become broadly available to U.S. traders, a product category that dominates offshore crypto derivatives volume. A permissive ruling would expand U.S. access to leveraged bitcoin trading, which traders view as supportive for liquidity and demand.
