Ondo’s $8B Perps Push Challenges U.S. Crypto Rules, Urges SEC and CFTC Action Now
Key Takeaways: Ondo has submitted three comment letters requesting U.S. regulators to create new rules for blockchains. The business firmly believes that perpetual futures, as well as modern margining and onchain data, c...
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Key Takeaways:
- Ondo has submitted three comment letters requesting U.S. regulators to create new rules for blockchains.
- The business firmly believes that perpetual futures, as well as modern margining and onchain data, can coexist with existing regulations.
- Ondo is opposed to U.S.-listed stock perpetuals being offshore, and seeks them to be brought onshore.
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Follow us on Google NewsOndo Finance is urging the regulators in the U.S. to reconsider how things work for traditional financial infrastructure in this area. The company says blockchain technology can solve a number of market risks without having to duplicate legacy systems.
The proposal comes as the SEC and CFTC examine how existing frameworks can accommodate digital-asset markets and newer forms of derivatives trading.
Ondo Targets Three Areas of Crypto Market StructureOndo submitted three comment letters on perpetual futures, portfolio margining and report of market data. The filings raise distinct regulatory concerns, but pull the same line of argument: rather than take over dated infrastructure, regulators should assess if a system is controlling risk successfully.
The most striking suggestion is with regard to perpetual futures. Perpetual contracts are not like traditional futures, as they do not have an expiration date which is set in stone. Ondo says continuous funding mechanisms and mark-to-market can do that without a fixed expiry date, and then some.
This holds true for crypto markets, where perpetual futures are one of the most dominant crypto derivatives traded. Ondo thinks the same concepts might help to regulate perpetual exposure to U.S.-listed assets.
Read More: Ondo Brings $1.67B Tokenized Securities Boom to the U.S. With Full Onchain Voting Rights
Onchain Infrastructure Could Change Risk and Data ReportingOndo also broke from tradition with respect to margining. Legacy models were constructed around slower settlement and disjointed transparency on what is available and admits collateral. According to the company, the use of blockchain-based infrastructure can facilitate settlement and monitoring of exposures more frequently.
The same argument extends to market data. Onchain systems create a verifiable, shared transaction history, rather than building up trading activity from numerous private records. Ondo states that the regulators should be able to trust it if it fulfills the standards and not push yet another reporting layer just to re-create what is already available on-chain.
The company is already operating in the perpetual-futures market. Ondo’s efforts to push into regulated U.S. markets with blockchain-native derivatives infrastructure come as Coinbase’s derivatives platform lists ONDO Perp Style Futures in 2026.
Ondo Wants Crypto Derivatives Back OnshoreOndo’s argument extends beyond technology. It says perpetual contracts tied to Ondo’s argument is not all about technology. It is already trading perpetual holdings on U.S.-listed securities off the U.S. exchanges, it argues, in a market structure it finds counterproductive.
The company wishes the S.E.C. and the C.F.T.C. would use existing regulatory goals to regulate these products instead of outside the U.S.
Read More: Franklin Templeton Teams with Ondo to Launch 24/7 Tokenized ETFs
The post Ondo’s $8B Perps Push Challenges U.S. Crypto Rules, Urges SEC and CFTC Action Now appeared first on CryptoNinjas.
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CFTC is showing up inside the Regulation theme, so this story is worth tracking for follow-through rather than treating it as a one-off headline.
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