CFTC Approves First Regulated Bitcoin Perpetual Contract in the US

The CFTC has taken a major step towards regulating crypto derivatives trading by approving the first Bitcoin perpetual contract in the US. Kalshi's BTCPERP contract is now subject to the Commodity Exchange Act and existing market standards, setting a precedent for regulated access to offshore markets.

Regulated perpetual contracts allow traders to speculate on future crypto price movements without an expiration date, making them a popular choice among investors. The CFTC has introduced leverage safeguards while expanding access to these markets, providing a framework for digital asset derivatives products.

The approval also enables Coinbase's registered futures commission merchant subsidiary to connect customers with foreign perpetual futures and options products through Coinbase Bermuda, under specific conditions. This move is seen as a significant step towards positioning the US as a major hub for digital assets.