SEC · Federal Reserve (FED) · CryptoSlate
Crypto perps’ US future to be defined by what regulators decide to call them
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The agencies’ request turns perps, event contracts, and alternative compliance into a public fight over product labels.
Key facts
- The Commodity Futures Trading Commission and Securities and Exchange Commission opened the process June 18, seeking public comment on how to further define swaps, security-based swaps, mixed swaps
- The public comment period will remain open for 60 days after the request is published in the Federal Register, according to the agencies
- The June 18 request gives that kind of argument a cross-agency audience
- The Futures Industry Association and FIA Principal Traders Group had already made part of that case before the current lawsuit
Summary
The agencies’ request turns perps, event contracts, and alternative compliance into a public fight over product labels. 01 The CFTC and SEC opened comment on how to define swaps, mixed swaps, event contracts, and alternative compliance paths. 02 Those labels will determine which regulator oversees a product, who may list it, and what reporting or oversight rules apply. 03 The process may shape crypto perps and prediction markets, but the agencies still preserve their authority and the outcome remains unsettled. The next fight over crypto perpetual futures regulation is moving into the agency comment file: a place built for lawyers, incumbents, startups, and public-interest groups.