Ondo Finance filed three comment letters with the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission on August 24, stating that existing rules governing security Futures can apply to perpetual Futures tied to individual stocks without Congress needing to create a new framework. Ondo’s Panama-based affiliate recorded a cumulative trading volume of $8 billion as of August 14, about six weeks after its launch. The company argues that the funding mechanisms of perpetual Futures can play a similar economic role to the expiration date and settlement of conventional Futures, without requiring a fixed expiration date.
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