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Bitcoin’s $85 billion derivatives engine may move onshore as CFTC eyes April approval
🤖AI Summary
CFTC Chairman Michael Selig is pushing to bring Bitcoin's $85 billion perpetual futures derivatives market under US regulatory oversight, with potential approval as early as April. This move would onshore crypto's most widely used leverage instrument, currently dominated by offshore exchanges.
Key Takeaways
- →CFTC Chairman Michael Selig aims to bring perpetual futures trading under US jurisdiction with potential April approval.
- →The Bitcoin derivatives market represents an $85 billion trading engine currently operating primarily offshore.
- →Perpetual futures are crypto's most widely used leverage trading instrument.
- →The initiative titled 'Limitless: Onshoring True Perpetual Derivatives' outlines the regulatory vision.
- →This regulatory shift could significantly impact the structure of crypto derivatives trading in the US.
Read Original →via CryptoSlate
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