CFTC to Greenlight Crypto Perpetual Futures ‘Very Soon’: Outgoing Commissioner

CFTC outgoing commissioner Summer Mersinger has hinted that the agency would “very soon” approve crypto perpetual futures in the US.

Speaking to Bloomberg on Thursday, she said that the commission has received some applications for approval of these products.

“I think those can come to market now, and we’re seeing some applications, and I believe we’ll have some of those products trading live very soon,” Mersinger said.

She added that it will be great to get those products trading back onshore in the US. “I think it’s unfortunate that it has been driven offshore for so long.”

Mersinger added that the fact that crypto perpetual futures under US regulatory purview, “is a really good thing for these markets, and will be beneficial to the industry and the US economy.”

She further highlighted that crypto assets are “clearly here to stay” as they are being embraced in the US.

Perpetual futures are a derivative contract type that allows traders to speculate on the price of crypto assets.

As reported by Cryptonews earlier, commissioner Mersinger said that she is stepping down from the regulator on May 30. She will be formally joining Blockchain Association, the crypto trade group, on June 2.

Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger has been tapped to lead the Blockchain Association.#CFTC #SummerMersingerhttps://t.co/Flplo4j7fN

President Trump nominated Brian D. Quintenz to serve as Chairman of the Commodity Futures Trading Commission (CFTC) for a more business-friendly regulatory approach to overseeing US derivatives markets.

When asked about her departure from the Commission, she noted that CFTC has a “very strong incoming chairman who has a great voice for the crypto industry.”

Talking about her contribution to the upcoming stablecoin legislation and the market structure bill in the US, she said, “the best place for me to contribute to that is through the opportunity that I have with the Blockchain Association.”

Apart from Mersinger, three other CFTC commissioners have announced their departure from the agency, including Republican Caroline Pham and Democrats Christy Goldsmith Romero and Kristin Johnson.

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