CFTC Chief Backs Approval of Perpetual Futures in the US Market

CFTC Chairman Michael Selig has publicly defended the agency's decision to approve perpetual futures — derivatives with no expiration date that are widely used on crypto exchanges. Selig argued that established market players always resist change, but blocking innovation only pushes new financial products into offshore jurisdictions beyond US oversight. Legalizing perps domestically will create a more transparent and regulated trading environment for these instruments. The decision has drawn a mixed reaction from the financial community, with supporters highlighting US market competitiveness and critics pointing to potential risks. Analysts view the move as part of a broader trend toward integrating crypto instruments into the mainstream financial system.