CFTC REQUESTS TO DISMISS CME-ENCRYPTED FUTURES

The United States Commodity Futures Trading Commission (CFTC) filed an application with the Federal Court on 2 September to dismiss the CME Group ' s action for the regulatory treatment of its futures in regard to the use of the encrypted currency permanent contract. According to CFTC, CME lacks legal status because it can deliver permanent futures under the same regulatory policy it challenges. On 18 June, CME filed an action in the District Court of the District of Columbia seeking to overturn the CFTC ' s approval of the Kalshibitcoin permanent contract. The refusal of the CFTC represented the position of the regulator, and the court had not yet ruled on the motion. CME claims that the CFTC decision gave the new exchanges an unfair competitive advantage by allowing them to offer permanent contracts under the futures framework. CFTC, on the other hand, argued that CME was also a designated contractual market and could apply for the listing of permanent futures. CFTC also states that CME's bitcoin and ITA futures traded in June and August above the May level. CME must submit an objection to the rejection of the motion by 2 October。