CFTC Files Motion to Dismiss CME Lawsuit Over Crypto Perpetual Futures

The US Commodity Futures Trading Commission (CFTC) has filed a motion to dismiss a civil suit filed by the Chicago Mercantile Exchange (CME) Group.

The CME lawsuit, filed in June, claimed that the regulator's treatment of cryptocurrency 'futures' as 'swaps' went against Congress.

CFTC Chair Michael Selig and the commission requested an oral hearing to address the motion, which argues that the group lacks standing due to a lack of concrete financial injury.

The CFTC said that any CME-registered exchange can list perpetual futures on digital assets, making the lawsuit 'much ado about nothing'.