CFTC opens door for crypto perpetual future contracts in US as Coinbase, Kalshi move forward
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The Commodity Futures Trading Commission opened the doors for perpetual futures contracts, giving way for Kalshi and Coinbase to offer those products in the United States.
Key facts
- On Friday, the CFTC's Division of Clearing and Risk, Division of Market Oversight and Market Participation Division issued that staff advisory, and it is not a formal rulemaking that offers more
- The CFTC greenlit KalshiEX, LLC to list a perpetual contract that is tied to the price of bitcoin, the BTCPERP Contract
- The Commodity Futures Trading Commission opened the doors for perpetual futures contracts, giving way for Kalshi and Coinbase to offer those products in the United States
Summary
The move is significant since most of that activity had been offshore and not in the U.S. Perpetuals, or perps, are a type of futures contract that don't have an expiration date and allow people to bet on the price movement of assets without owning them directly. "This morning, the took historic action to permit the listing of a true bitcoin perpetual contract by a CFTC-registered exchange, charting a path for one of the most liquid segments of the crypto asset markets to exist within the US regulatory framework," said CFTC Chair Michael Selig in a post on X. On Friday, the CFTC's Division of Clearing and Risk, Division of Market Oversight and Market Participation Division issued that staff advisory, and it is not a formal rulemaking that offers more permanency.