At last, the traditional finance giants can’t sit still anymore—CME is taking this to the CFTC; on the surface, they’re arguing about whether it’s compliant, but in reality, they’re afraid crypto derivatives will steal their business. The 2008 mess can’t be left for them to shoulder for nothing.

Crypto news, CME Group CEO Terrence Duffy is preparing to file a lawsuit against the CFTC, arguing that crypto perpetual contracts are actually swaps as defined by the Dodd-Frank Act and should follow existing derivatives rules. This move comes after the CFTC approved regulated crypto perpetual contracts on platforms like Coinbase and Kalshi. CME warns that this decision could recreate market risks similar to those of 2008.