Woofun AI reports that the U.S. Commodity Futures Trading Commission (CFTC) has approved BTCPERP as the first regulated perpetual futures contract, establishing a new regulatory precedent. Chairman Michael S. Selig defined 'contracts for future delivery' based on price exposure rather than fixed expiration dates, thereby enabling perpetual-style instruments without fixed expiry. The agency determined that these instruments utilize funding rates and cash settlement structures similar to existing derivatives in the U.S. market.

This approval positions BTCPERP within regulated exchange infrastructure, aligning offshore innovation with U.S. oversight standards. Selig emphasized that the Commodity Exchange Act does not explicitly define futures contracts, noting that courts interpret them using multiple market factors over time, including the expectation of future price or value. He highlighted that regulatory interpretation supports bringing new derivatives under formal oversight, aligning court precedent with modern exchange product structures. In related developments, the CFTC appointed Donald Battle as chief data innovation officer within its Division of Data, where he will support data science and blockchain forensics. Battle previously worked at the SEC under Commissioner Hester Peirce's Crypto Task Force and served at FinCEN focusing on virtual currency enforcement and anti-money laundering. Separately, J Matthew Haws was named senior advisor and Chicago Regional Administrator, bringing over 13 years of derivatives legal and compliance advisory experience from roles at Marex and Katten Muchin Rosenman LLP.