CFTC approves first regulated Bitcoin perpetual contract in the US, opening legal crypto derivatives trading markets for American investors nationwide.
The United States has just hit a major milestone in crypto regulation. The Commodity Futures Trading Commission, or CFTC, has given the green light to the nation’s first regulated Bitcoin perpetual contract. It’s a momentous occasion for the crypto sector and for the financial markets in the United States.
The announcement was made by CFTC Chairman Mike Selig in public. He said the agency has officially allowed a Bitcoin perpetual contract to be listed on a CFTC-registered exchange. In simple terms, that means American traders can now trade this type of crypto product inside a proper, regulated system for the first time.
What Is a Bitcoin Perpetual Contract?
Bitcoin perpetual contract is a type of trading product. It enables traders to take a position on the direction of Bitcoin’s price. Unlike regular futures contracts, it has no expiry date. This means that traders can keep their position as long as they want.
In my first public remarks as @CFTC Chairman, I made clear that the agency would use the tools at its disposal to onshore crypto asset perpetuals. Today, the @CFTC delivered on that commitment.
This morning, the @CFTC took historic action to permit the listing of a true bitcoin…
— Mike Selig (@ChairmanSelig) May 29, 2026
Perpetual contracts are extremely popular in the crypto world. Indeed, they are among the most traded products in the entire crypto market. Most of this trading has taken place on exchanges abroad the United States. This is about to change.
Reading more: SEC and CFTC Issue Joint Guidance Saying Most Crypto Assets Are Not Securities – Ledger Tribune
Which Exchange Got the Approval?
The approved product is called BTCPERP. It is a creation of Kalshi, a CFTC registered exchange. Kalshi’s BTCPERP contract is a real-time Bitcoin spot price tracker. This implies that the worth of the contract rises and falls in tandem with the real value of Bitcoin.
The CFTC’s approval means that Kalshi can be legally and fully regulated to provide this contract to American traders.
What Did CFTC Chairman Mike Selig Say?
Chairman Selig was not holding back in his statement. He said that when he first took over as CFTC Chairman, he made a clear promise to bring crypto perpetual trading into the US regulatory system. Today’s approval is the CFTC’s fulfilling of that promise, he said.
For years, regulators have been seeing financial innovation as a threat, not an opportunity, he said. He said this antiquated method was driving American crypto builders and developers to relocate their operations to other countries. Now, he said, those days are over. He attributed the current administration’s leadership to making the US the top destination for crypto in the world.
What About Coinbase and Deribit?
CFTC also acted separately, but related, against Coinbase. CFTC staff issued what is called no-action relief to Coinbase Financial Markets. It’s a legal term that basically says that the CFTC will not take enforcement action against Coinbase under specific circumstances.
What does Coinbase have to do? According to this relief, Coinbase Financial Markets will be able to leverage customer assets and payment stablecoins on its affiliate platform, Deribit. Margin is just the money that a trader deposits as collateral when trading.
This is important as it will allow traders to leverage their existing crypto assets as collateral, instead of converting all their assets to cash first. This makes trading easier and more efficient.
Why Does This Matter for Crypto in America?
This approval is not only for one contract, it is for all contracts. It marks a clear change in the way US regulators are thinking about crypto. Rather than shutting down or ignoring, the CFTC is now actively developing a structure to introduce major crypto products into the regulated US market.
This is more safety and more protection for traders. For the industry, it means that it’s now possible to do a legitimate business on American soil. For the rest of the world, it’s a clear sign that the U.S. is taking digital asset innovation seriously and is aiming to become the world’s center for it.
The regulated Bitcoin perpetual is now approved, paving the way for other crypto products to follow suit.