Kraken's Onshore Push: Perpetual Futures Come to the US

Kraken's recent announcement has sent shockwaves through the cryptocurrency market as it plans to launch CFTC-regulated perpetual futures within the next 30 days. The exchange has been working closely with Bitnomial Exchange, a CFTC-regulated venue that it acquired earlier this year, to bring its products onshore.

This move is part of the broader trend towards onshore trading in the US, as other exchanges like Coinbase and KalshiEX also seek approval for similar products. The US regulatory framework has been evolving rapidly, with the CFTC chair stressing the importance of American oversight and standards in the crypto derivatives market.