The U.S. Commodity Futures Trading Commission (CFTC) has just sent an important signal: crypto perpetual futures could be approved soon in the U.S. However, this positive news comes at a time when the CFTC is facing a leadership crisis, putting the future of reforms related to digital assets at risk of being delayed.
New products coming soon
In an interview with #Bloomberg on Thursday, CFTC Commissioner Summer Mersinger stated that she believes that crypto perpetual futures will be traded "very soon" in the U.S. She said:
"I think those products could launch right now. We have seen some registration filings, and I believe there will be actual trading products soon."
According to Mersinger, the legalization of these products would not only boost the digital asset industry but also provide economic benefits to the United States.
What are Perpetual Futures?
Perpetual futures are derivative contracts with no expiration date, allowing users to trade with high leverage 24/7, based on the price of underlying assets like Bitcoin or $XRP . They are popular products on many international exchanges due to high liquidity and continuous trading capabilities. However, many experts warn of significant risks to investors, especially during periods of market volatility.
CFTC leadership is leaving their positions one after another
Mersinger's positive remarks came just before she left office to take on a new role at the Blockchain Association, a lobbying organization for the crypto industry. She is one of 4 commissioners #CFTC who announced they would be leaving office soon, including:
Caroline Pham (Republican)
Christy Goldsmith Romero (Democrat)
Kristin Johnson (Democrat)
With this wave of resignations, the CFTC will only have one commissioner left awaiting Senate approval: Brian Quintenz, who was appointed by President Donald Trump and is known for his crypto-friendly views.
Risk of slowing down reforms
The lack of senior staff at the CFTC could lead to:
Delay in law enforcement actions
Freezing the process of creating new regulations
Hindering coordination between the CFTC and other financial agencies
According to an analysis from the law firm Paul Hastings, the U.S. Senate must urgently complete the approval process for new commissioners, lest the plans to develop a legal framework for digital assets be stalled.
Connecting with the crypto market
The U.S. considering the legalization of perpetual futures is a major turning point for the global crypto industry, which has long been constrained by strict regulations in the U.S. If approved, exchanges in the United States may expand their products and attract new capital inflows, especially from professional investors. However, any delays due to lack of executive personnel could negatively impact the development of the crypto market in the U.S., particularly in an increasingly competitive global environment.
Risk warning: Investing in cryptocurrencies and associated derivative products involves a high level of risk. The information in this article is not investment advice. Please consider carefully before participating in the crypto market. #anhbacong