CFTC Seeks Dismissal of Lawsuit Over CME Crypto Futures

The Commodity Futures Trading Commission (CFTC) has filed a motion to dismiss a lawsuit against the Chicago Mercantile Exchange (CME) over its crypto perpetual futures product.

The lawsuit was initially filed by a group of investors who claimed that CME's crypto derivatives did not meet regulatory requirements, but the CFTC argues that it does have oversight authority over the product.

In the motion, the CFTC points out that it has already approved CME's registration as a derivatives clearing organization and exchange, which would imply that the crypto perpetual futures product is subject to its regulatory purview.