CFTC member Mersinger states that crypto perpetual futures trading may enter the U.S. market

According to reports, Commodity Futures Trading Commission member Summer Mersinger stated on Thursday that perpetual crypto futures could potentially be traded in the United States. These derivatives, known as perpetual swaps, allow traders to speculate on cryptocurrency prices without an expiration date. Last month, the total trading volume of cryptocurrency futures approached $3.7 trillion. Mersinger will step down from her CFTC position on May 30 to serve as the CEO of the Blockchain Association, a major lobbying group for the crypto industry in Washington. Notably, she had previously encouraged the CFTC and the U.S. Securities and Exchange Commission to collaborate on creating a regulatory framework for digital assets. Mersinger was nominated by former President Biden to fill the Republican seat at the CFTC and was sworn in in March 2022. During her tenure, she discussed the popularity of cryptocurrencies and stated that it is no longer a passing trend, which is also the reason traditional financial companies are getting involved. The CFTC has four vacant seats that need to be filled after several commissioners left in recent days.