CFTC Approves Regulated Bitcoin Perpetual Futures

The United States — United States Commodity Futures Trading Commission>>> (CFTC) has approved the first regulated bitcoin perpetual futures contract in the United States>>>, greenlighting Kalshi>>>'s BTCPERP product. This landmark decision establishes a workable framework for regulated crypto perpetual trading domestically, aiming to expand institutional access to offshore markets and bring crypto derivatives under federal oversight. Concurrently, the United States — United States Commodity Futures Trading Commission>>> issued a no-action letter to Coinbase>>> Financial Markets, allowing its subsidiary to connect customers with foreign perpetual futures and options products through Coinbase>>> Bermuda. This guidance also permits certain customer-owned crypto assets, including Bitcoin>>>, Ethereum>>>, and payment stablecoins, to serve as margin collateral under specific conditions. The United States — United States Commodity Futures Trading Commission>>>'s actions are seen as a significant step in U.S. crypto regulation, fostering responsible innovation while ensuring customer protections and market integrity. Tarek Mansour>>>, CEO of Kalshi>>>, and Michael S. Selig>>>, Chairman of the United States — United States Commodity Futures Trading Commission>>>, both highlighted the importance of these developments for risk management and price discovery in crypto markets. The move is also intended to position the United States>>> as a major digital asset hub, addressing previous criticisms from figures like Donald Trump>>> regarding offshore trading activity.