CFTC Considers 24/7 Crypto Derivatives Trading Bitcoin perpetual contracts have entered the U.S. market

According to crypto journalist Eleanor Terrett, Caroline Pham, acting president of the U.S. Commodity Futures Trading Commission (CFTC), said that all of the public comment proposals the agency has received on 24/7 derivatives and perpetual contract trading have only involved cryptoasset products and not traditional commodities. In a presentation this week, Pham noted that the CFTC sees potential benefits for round-the-clock trading, including the ability to respond to unexpected events in real-time over the weekend, which is significant for risk managers. She cites the recent launch of 24/7 bitcoin futures by trading platform Derivatives as an example, saying that its weekend trading volume is comparable to that of an active weekday. Notably, the CFTC is also considering tokenized assets and stablecoins as collateral to address credit risk in the 24/7 market. Regarding perpetual contracts, the CFTC confirmed that they are already trading in the U.S. market, and a platform launched Bitcoin perpetual futures in April. Some commentators want more crypto perpetual contracts to operate under US regulation, citing greater efficiency and lower costs; But there are also warnings that these contracts may not apply to physical commodities due to a lack of convergence and additional risks.