CME Group Plans Lawsuit Against CFTC Over Crypto Perpetual Futures Decision

CME Group, the world’s largest derivatives exchange, has confirmed it will pursue legal action against the U.S. Commodity Futures Trading Commission (CFTC) following the regulator’s recent approval of perpetual futures contracts, according to outgoing CEO Terrence Duffy.

The dispute comes after the CFTC, in late May, cleared platforms including Coinbase and Kalshi to offer regulated crypto perpetual futures in the United States.

Duffy said that, under the Dodd-Frank Act, these instruments are more appropriately classified as swaps rather than standard futures contracts. He further argued that CME holds exclusive rights associated with the relevant benchmark provider and insisted that such products should be routed through CME regardless of their structure.

Source: CNBC