The Block: CFTC grants no-action relief for exchanges to convert certain contracts into "true" perpetuals
AI Market Summary
CFTC no-action relief lets regulated U.S. DCMs convert certain existing futures-like products into "true" perpetual contracts without expiries, subject to customer notice, feedback, exit options, and added risk disclosures. This reduces regulatory friction for onshore perps and could improve market structure and liquidity in crypto-linked derivatives. The relief is time-limited (expires Oct. 20), creating a near-term window for exchange implementation.
Impact level
● High
Affected assets
BTC/USDT-0.42%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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THE BLOCK: The U.S. Commodity Futures Trading Commission (CFTC) issued no-action relief that lets designated contract markets (DCMs) convert certain existing contracts that already function like perpetuals into "true" perpetual contracts with no expiration date. The relief runs through Oct. 20 and sets conditions: exchanges must solicit feedback from open-position holders, provide advance notice and an opportunity to exit positions, and deliver risk disclosures.
