For years, the most popular way to trade crypto — a never-expiring, highly leveraged contract called a perpetual future — has existed almost entirely beyond the reach of US regulators, thriving on offshore exchanges that operate outside American law.
That is starting to change.
America’s main derivatives regulator issued staff guidanceFriday laying out the conditions under which registered US platforms could launch 24/7 trading of financial products, including crypto perpetuals, giving the industry its clearest roadmap yet for bringing a multitrillion-dollar market onshore — while stopping short of immediately throwing open the doors.
The
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