CFTC Fights Back Against CME's Crypto Perpetual Futures Lawsuit
The US Commodity Futures Trading Commission (CFTC) is pushing back against CME Group's lawsuit over its approval of cryptocurrency perpetual futures. The agency filed a motion to dismiss on September 2, arguing that CME lacks standing and any alleged competitive harm is self-inflicted.
CME had argued that contracts with no expiration or delivery date, where traders make periodic payments to one another, should be legally treated as swaps rather than futures. However, the CFTC's dismissal motion rejected those claims, saying the May 29 order applies to all registered designated contract markets (DCMs), including CME.
The CFTC also cited CME's own trading volume figures to reinforce its argument, noting that Bitcoin and Ether futures volumes at CME were higher in both June and August 2026 than they were in May 2026, the month the order was issued.