According to ME News, on June 18 (UTC+8), Terrence Duffy, CEO of CME Group, stated on CNBC’s “Fast Money” that the exchange operator plans to sue the U.S. Commodity Futures Trading Commission (CFTC) over perpetual contracts. “Under the Dodd-Frank Act, perpetual contracts are essentially swaps. We have exclusive licensing agreements with every benchmark provider. Therefore, regardless of whether perpetual contracts are involved, all these products must be traded through the Chicago Mercantile Exchange (CME). If the final ruling supports this, they must list these products as swaps.” (Source: Foresight News)
CME Group to Sue CFTC Over Classification of Perpetual Contracts
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Summary
CME Group announced on June 18 that it will sue the CFTC over the classification of perpetual contracts, citing MetaEra. CEO Terrence Duffy argued that perpetual contracts are swaps under the Dodd-Frank Act and must be traded on CME due to exclusive licensing. On-chain news shows increasing regulatory scrutiny. Meanwhile, an exchange hack remains a top concern for traders.
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