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US Approves First Crypto Perpetual Futures
31 May
Summary
- First regulated onshore crypto perpetual futures contract approved in the US.
- Certain offshore crypto perpetual contracts now classified as Foreign Futures.
- Coinbase can now transfer client assets to offshore brokers for margin.
The U.S. Commodity Futures Trading Commission (CFTC) has enacted two significant regulatory measures impacting the cryptocurrency derivatives market. A new Bitcoin perpetual futures contract, BTCPERP, has been approved for trading on KalshiEX, establishing the first regulated onshore perpetual futures contract within the United States. This product is categorized under traditional futures contract rules.
Furthermore, the CFTC has clarified that certain offshore digital asset perpetual contracts qualify as Foreign Futures under its regulations. This reclassification, supported by a No Action Letter issued to Coinbase Financial Markets, permits the transfer of client cryptocurrency assets and stablecoins to offshore brokers for margin purposes. This framework aims to increase transparency and facilitate institutional investment in perpetual contracts.
