CFTC rejects CME's legal challenge to U.S. perpetual futures policy

The U.S. Commodity Futures Trading Commission filed a court brief arguing that CME Group has not demonstrated it is being harmed by new perpetual futures policies, meaning it lacks legal standing to challenge the regulator. The CFTC, responding to President Trump's crypto agenda, opened the door for U.S. perpetual futures in May and regulates them on a case-by-case basis as futures, while CME insists the contracts are swaps subject to different rules.