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CME's lawsuit over crypto perpetual futures may be headed for an early exit, though not on the merits.
The CFTC has filed to dismiss the suit, arguing the exchange cannot claim competitive injury when it is already authorized to list those same contracts as a designated contract market.
That framing, which the agency distilled to "much ado about nothing," is either a clean legal kill or a deflection from the harder regulatory question underneath. The case for dismissal is legally compact.
CME holds designated contract market status, and the CFTC's position is that this gives the exchange the same pathway to offer perp futures it is now contesting.
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