CFTC Seeks Dismissal of CME Lawsuit Over Crypto Perpetual Futures

VERA Brief

AI-generated. Grounded in the article and its cited sources.

The CFTC has asked a court to dismiss a lawsuit filed by CME Group. CME Group challenged the CFTC's authority regarding cryptocurrency perpetual futures, but the CFTC argues CME lacks standing to sue.

Key facts

• The CFTC has filed a motion to dismiss a lawsuit initiated by CME Group.
• CME Group challenged the CFTC's authority to allow perpetual futures contracts on Designated Contract Markets.
• The CFTC contends that CME Group does not have legal standing to sue based on competitive injury.
• The CFTC stated that CME Group is able to list such products on its own Designated Contract Markets.
• The lawsuit involves the CFTC's interpretation of regulations for cryptocurrency derivatives.