Are perps swaps? A quick look at that CME suit: State of Crypto
CME Group has filed a lawsuit against the CFTC, challenging the regulator's approval of Kalshi's perpetual futures contracts. CME argues that these products should be classified as 'swaps' rather than 'futures' under the Dodd-Frank Act.
Why it matters
This legal battle highlights the growing tension between traditional financial institutions and the crypto industry regarding regulatory classification and market competition.
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The article presents the arguments of the lawsuit while acknowledging the broader context of the crypto market's growth.
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