CME Group to Sue CFTC Over Approval of Bitcoin Perpetual Futures

⚖️ The CME Group plans to sue the CFTC over its approval of perpetual futures in the U.S., arguing they should be classified as swaps under the Dodd-Frank Act.

📈 CEO Terrence Duffy emphasized that CME's licensing agreements require all perpetual futures to go through their exchange, asserting their exclusive control over benchmark providers.

💼 Duffy stated that CME has been preparing for this legal battle for eight months and is committed to challenging the CFTC's decision, which aims to regulate perpetual futures in the U.S. market.