CFTC Chair Mike Selig stated that the U.S. CFTC has approved the first regulated platform to launch Bitcoin perpetual contracts, opening the way for crypto perpetual contracts to be incorporated into the U.S. regulatory framework. Selig said that perpetual contracts are an important risk management and price discovery tool in the global crypto market, and this move will help promote the U.S. as a "global crypto hub," while also limiting excessive leverage, market volatility, and systemic risk through the regulatory framework. The name of the approved exchange has not yet been disclosed.