Kraken will launch US compliant Bitcoin perpetual contracts

According to Kraken, after the CFTC approves the Bitcoin spot linked perpetual futures contract, the company plans to launch regulated Bitcoin perpetual contract products to US institutional clients within the next 30 days. The related products will be launched on Bitnominal Exchange, a CFTC regulated platform acquired by its parent company Payward. Payward announced in April that it would acquire Bitnomial for up to $550 million. At the same time, Coinbase has also provided cryptocurrency options and perpetual contracts market access to US institutional clients through its futures brokerage business after approval by the CFTC. CFTC Chairman Michael Selig stated that the issue lies in whether encrypted perpetual contracts operate within the regulatory framework of the United States. The CFTC issued guidance on 24/7 trading on the same day, providing regulatory support for 24/7 trading of encrypted derivatives.