CFTC says CME lacks standing to sue over perpetual futures approval

The U.S. Commodity Futures Trading Commission has filed a brief arguing CME lacks standing to sue over the policy allowing crypto perpetual futures, CoinDesk reported. The CFTC approved Kalshi’s Bitcoin perpetual futures product in May, after which CME sued on the grounds that perpetual futures should be treated as swaps rather than futures contracts.

The CFTC countered CME had not been harmed by the approval and said CME’s crypto futures trading volume had instead increased. TD Cowen analyst Jaret Seiberg said the situation could become more complicated if the perpetual futures market expands while the lawsuit is pending.

Source: Coinness