US CFTC Commissioner "Cryptocurrency Perpetual Futures to be Approved Soon"

The US Commodity Futures Trading Commission (CFTC) has stated that "cryptocurrency perpetual futures contracts will be approved soon."

Summer Mersinger, a CFTC Commissioner, said in an interview with Bloomberg TV on the 22nd (local time), "Several applications for (cryptocurrency perpetual futures contracts) have been received, and we will soon see them being traded," she said. Commissioner Mersinger stated, "(Allowing cryptocurrency derivatives trading) will have a very positive impact on the entire market and will be a great benefit to the industry overall."

Cryptocurrency perpetual futures contracts are derivatives that allow trading based on price predictions without holding the cryptocurrency. Unlike traditional futures contracts, they have no expiration date and allow high-leverage trading. Cointelegraph reported, "Currently, such perpetual futures trading is not allowed in the US," and "it is only traded on overseas centralized exchanges (CEX) like Binance, OKX, and Bybit."

Meanwhile, Commissioner Mersinger will retire from the CFTC at the end of this month. Cointelegraph stated, "(Commissioner Mersinger) plans to move to the position of CEO of the US cryptocurrency industry lobbying group, the 'Blockchain Association'."