Citadel Securities-Backed Group Sues CFTC Over Expansion of Crypto-Style Perpetual Futures

A trade group backed by Citadel Securities and Cboe sued the US Commodity Futures Trading Commission (CFTC) on Tuesday, hours after the regulator cleared perpetual futures on individual stocks. The Capital Markets Alliance filed the complaint in federal court in Manhattan against the CFTC and its chairman, Michael Selig. It argues the contracts are security-based swaps, which only the Securities and Exchange Commission (SEC) can oversee. Selig said earlier that day that perpetual futures on single stocks could begin trading for the first time on CFTC-registered exchanges that are also notice-registered with the SEC.

Source: Crypto News Australia