Coinbase Demands SEC-CFTC Action to Unify Perpetual Futures Regulation

Coinbase, the largest US cryptocurrency exchange, is calling for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to resolve overlapping jurisdiction on perpetual futures.

The company argues that clarifying the legal definition of these products and each agency's supervisory scope would reduce regulatory uncertainty and strengthen the competitiveness of US markets.

Coinbase submitted recommendations centered on a regulatory framework that promotes consumer choice, market competition, and innovation. The company also suggested classifying equity-based perpetual futures as security futures.

Faryar Shirzad, Coinbase's chief policy officer, wrote that resolving complex product definitions and overlapping jurisdiction is critical to bringing related trading activity into US markets.