Terrence Duffy

CME Group plans to sue the Commodity Futures Trading Commission (CFTC) over its approval of Bitcoin perpetual futures, arguing the products should be classified as swaps under the Dodd-Frank Act. The CFTC approved Kalshi and Coinbase to offer these contracts, asserting they bring crypto derivatives under U.S. regulation. CME claims the CFTC bypassed standard review procedures and that perpetual futures require different regulatory treatment.

Outgoing CME CEO Terrence Duffy stated the exchange operator will sue the CFTC over the agency's approval of perpetual futures. The lawsuit challenges the CFTC's decision to permit these financial instruments.