CFTC files to dismiss CME lawsuit over crypto perpetual futures
The CFTC asked a federal court to dismiss CME Group’s lawsuit over the agency’s treatment of crypto perpetual futures. CME argued in June that the CFTC improperly approved Bitcoin-linked perpetual futures for Kalshi and issued a no-action stance for similar Coinbase products, allegedly reclassifying futures as swaps without full commission approval and beyond its authority under the Commodity Exchange Act. The CFTC says CME lacks standing because it has not shown a concrete or likely financial injury. The agency argues any CFTC-registered exchange could list the same digital-asset perpetual futures, so CME cannot claim harm from the approvals. The filing called the suit “much ado about nothing” and said CME could not plausibly allege financial injury. The CFTC also requested an oral hearing on the dismissal motion.
