⚖️ Coinbase, Kalshi and Kraken's parent step in to defend the CFTC over US stock perps
Coinbase, Kalshi, Kraken parent Payward, DRW Holdings, Jump Trading and Paradigm have asked a federal court for permission to file an amicus brief backing the CFTC's authority over single-stock perpetual futures. The move answers a lawsuit from the Capital Markets Alliance, a group whose members include Cboe and Citadel Securities, seeking to overturn the CFTC's approval of the products.
The CMA argues equity perps have no expiry and should count as "security-based swaps" under SEC oversight. The crypto firms counter that the SEC was "at the table from the very start," noting that Coinbase, Kalshi and Payward's applications to list perps on US stocks were deemed approved on Nov. 2.
⭐ The ruling will decide whether 24/7 perpetual-style trading on US equities can grow onshore under the CFTC, a key battleground between crypto platforms and traditional market makers.
#Coinbase #Kalshi #CFTC #Perps #Tokenization
Coinbase, Kalshi, Kraken parent Payward, DRW Holdings, Jump Trading and Paradigm have asked a federal court for permission to file an amicus brief backing the CFTC's authority over single-stock perpetual futures. The move answers a lawsuit from the Capital Markets Alliance, a group whose members include Cboe and Citadel Securities, seeking to overturn the CFTC's approval of the products.
The CMA argues equity perps have no expiry and should count as "security-based swaps" under SEC oversight. The crypto firms counter that the SEC was "at the table from the very start," noting that Coinbase, Kalshi and Payward's applications to list perps on US stocks were deemed approved on Nov. 2.
⭐ The ruling will decide whether 24/7 perpetual-style trading on US equities can grow onshore under the CFTC, a key battleground between crypto platforms and traditional market makers.
#Coinbase #Kalshi #CFTC #Perps #Tokenization
