Inside the CME and CFTC’s battle over onchain perpetual futures
CoinDesk·
60-second summary
The CFTC has approved its first onchain perpetual futures listing, opening the gates for crypto perps in the US, but CME is pushing back, arguing this move diverges from the law. CME sees this as a threat to its derivatives dominance, fueling a high-stakes battle between the two industry giants, with market implications for crypto trading and regulatory standards.
Weeks ago, the U.S. CFTC opened the gates for crypto perps with its first listing approval, but major derivatives player CME is fighting back against what it sees as a diversion from the law.