CFTC backs crypto perpetual contracts, issues advisory on 24/7 trading
60-second summary
The CFTC issues notices affecting platforms offering cryptocurrency perpetual futures contracts, including a no-action position for Coinbase, allowing it to continue trading without regulatory action, and approval for Kalshi, a new platform. This advisory provides guidance on 24/7 trading, impacting the global crypto market, particularly affecting US-based exchanges, and may lead to increased adoption of perpetual contracts.
The CFTC issued notices affecting platforms seeking to offer cryptocurrency perpetual futures contracts, including a no-action position for Coinbase and approval for Kalshi.