President of the CFTC Mike Selig says perpetual cryptocurrency futures are starting to move into the United States, marking what it calls a “watershed moment” for regulated digital asset markets.
“It’s just the beginning, not the end“
“We want the industry to survive, thrive and grow here in the United States,” he said.
Selig predicts that more exchanges should launch similar products. “This is the beginning and not the end,” he added.
The president stressed that the goal was to integrate this activity into a regulated U.S. market structure instead of forcing traders to relocate. “They’re going to use a VPN and access it anyway, and they have no protection,” he warned.
Digital products could self-certify
Selig explained that exchanges may be able to self-certify perpetual contracts related to digital products, provided the products meet CFTC standards.
Contracts must have an available market and must not be easily subject to manipulation, he stressed.
For more complex categories such as meme coins, tokenized stocks, collectibles or security-based products, Selig said exchanges should expect more direct engagement with regulators.
Stock investors could be next
Selig said the CFTC also wants to work with the SEC on perpetual stock futures, including products related to tokenized stocks, pre-IPO companies and other real-world assets.
He acknowledged that these products fall between the jurisdictions of the two agencies because they combine derivatives with exposure to securities.
“We are very happy to have conversations with the SEC about perpetual shares and other types of products,” he concluded.
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