CFTC Seeks Dismissal of CME Group's Cryptocurrency Futures Lawsuit

The CFTC has asked a federal judge to dismiss CME Group's lawsuit against its approval of cryptocurrency perpetual futures, arguing that the exchange cannot prove concrete economic harm.

In a motion filed on Wednesday, the regulator described the litigation as 'much ado about nothing,' stating that CME lacks constitutional standing because it has not alleged a verifiable financial loss.

The agency noted that the order challenged by CME allows any registered designated contract market to list products with a similar structure and that any competitive damage would be self-inflicted, as CME itself acknowledged its clients have not requested perpetual futures.