CFTC Moves to Dismiss CME's Crypto Perpetual Futures Lawsuit
CME sits 27% above its 52-week low of $218.31.
Summary
The CFTC filed a motion to dismiss CME's lawsuit over crypto perpetual futures, calling the case 'much ado about nothing' and arguing CME lacks standing. The agency contends CME can list the same products and that its own volume data shows no competitive injury. This is a significant setback for CME's legal challenge, though the exchange will file an opposition by Oct. 2. The dispute centers on whether perpetual futures should be classified as swaps, with CME claiming the CFTC circumvented regulations. Kalshi, the first approved perpetual futures exchange, is directly affected as the CFTC defends its approval.
At the time of this announcement, CME was trading at $278.15 on NASDAQ in the Finance sector, with a market capitalization of approximately $99.9B. The 52-week trading range was $218.31 to $329.16. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: The Block.