On November 10, Coinbase's General Counsel and Corporate Secretary, Molly Abraham, stated that Coinbase, Kalshi, Payward, DRW Holdings, Jump Trading, and Paradigm have filed an amicus brief in court in support of the U.S. Commodity Futures Trading Commission's (CFTC) regulatory authority over U.S. single-stock perpetual contracts.
Under the Commodity Exchange Act (CEA) and the securities and futures regulatory framework established by the U.S. Congress in 2000, securities and futures products do not fall under the category of "swaps." Such products should be developed within the regulatory and investor protection frameworks of the CFTC and the Securities and Exchange Commission (SEC), rather than being forced to remain overseas unregulated. These institutions are committed to promoting the implementation of perpetual stock contracts in the U.S. market in a responsible and compliant manner.
