Coinbase, Kalshi, Payward, DRW Holdings, Jump Trading and Paradigm have asked a US court to file an amicus brief supporting CFTC authority over single-stock perpetual contracts, arguing they are security futures rather than security-based swaps. Coinbase legal counsel Molly Abraham said blocking such products in the US would push trading abroad.
Coinbase, Kalshi and four others back CFTC oversight of single-stock perpetuals
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The story so far: Single-stock perpetual futures lawsuit
A Cboe-backed group sued the CFTC to block approval of single-stock perpetual futures listed by Coinbase, Kalshi and Bitnomial; Judge Valerie Caproni denied a pause, finding the contracts closer to SEC-regulated swaps. The SEC has now filed a brief backing the CFTC in the dispute, saying the CFTC's rule changes must…
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Coinbase, Kalshi and four others back CFTC oversight of single-stock perpetuals
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