CFTC Clears Path for Crypto Perpetual Futures in the US
The Commodity Futures Trading Commission (CFTC) has established a regulatory path for certain crypto perpetual futures in the US. On May 29, the CFTC approved KalshiEX's Bitcoin-linked BTCPERP contract, which tracks Bitcoin's spot price and has no fixed expiration date. This approval is part of a workable framework for 'true crypto asset perpetual contracts,' according to CFTC Chair Michael Selig.
The CFTC's policy allows case-by-case review of perpetual contracts tied to other asset classes. The agency also granted June 12 no-action relief, allowing designated contract markets to convert certain existing perpetual-style digital commodity futures into true perpetual contracts. However, this approval does not amount to blanket approval for all perpetual products.
The CFTC's actions are part of a broader effort to support President Donald Trump's goal of making the US 'the crypto capital of the world.' Additionally, the Securities and Exchange Commission is reviewing Coinbase Derivatives' proposed cash-settled futures on individual stocks and exchange-traded fund shares.