- CFTC Commissioner Summer Mersinger is confident of the approval of crypto perpetual futures trading in the United States soon.
- Mersinger believes that the introduction of these products, supported by the U.S.’s robust regulatory framework, will significantly benefit both the cryptocurrency industry and the wider economy.
- Mersinger is set to depart from her role at the CFTC by May 31 to assume the position of CEO at the Blockchain Association.
A commissioner at the Commodity Futures Trading Commission (CFTC), Summer Mersinger, has predicted that the United States market would soon experience trading of crypto perpetual futures.
Mersinger shared her remarks during a recent interview with Bloomberg TV. The CFTC commissioner, who would be leaving her role at the end of the month, responded to a question on whether regulators would approve perpetual crypto futures in the U.S. soon.
CFTC Commissioner Confirms Progress on Crypto Derivatives Approvals
Mersinger commented that the commission has received quite a number of applications. Hence, it’s likely that trading on some of those products would be live soon.
She added that it is unfortunate that it has taken this has been pushed for so long. The CFTC commissioner also said that the approval for these products in U.S. Based on the nation’s regulatory infrastructure will benefit the cryptocurrency industry and the broader economy.
As a type of derivative contract, crypto perpetual futures enable traders to predict the price of any digital asset without an expiry date. The crypto futures trading market isn’t approved in the U.S. Yet even though it continues to grow at a remarkable rate, reaching almost $3.7 trillion in volume last month.
Mersinger expressed certainty that the CFTC would remain a self-governing body as it was established to be and won’t be affected by changes in the white house. She stressed that the commission’s primary role is to ensure proper supervision to enable the derivatives market fulfill its main purpose of risk mitigation and price discovery.
Mersinger: Stablecoin Bill Proves Crypto’s Permanence
In her comments regarding the stablecoin bill in the Senate, the CFTC commissioner stated that current developments about the bill is proof that “crypto is here to stay.” Recently, Mersinger agreed to become the new chief executive officer of the Blockchain Association (a crypto advocacy group).
Hence, the CFTC commissioner will leave her role at the regulatory body by May 31. In a separate interview with Bloomberg, former U.S. Senator, Pat Toomey, said there are no guarantees that the United States will dominate the crypto space unless it creates an ideal regulatory framework and passes sensible legislation.
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