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Ex-SEC and CFTC officials call for lighter crypto perps rules
The group argues strict regulation would keep a roughly $90 trillion derivatives market offshore as lawmakers delay the Clarity Act.
Former SEC and CFTC officials are urging regulators to take a lighter approach as crypto exchanges push to bring perpetual derivatives, or perps, trading onshore.
Decrypt reports the agencies are still moving forward on crypto derivatives and related custody work even as the Clarity Act remains stuck in procedural limbo.
The former officials warn that overly burdensome requirements could limit compliance and leave much of the estimated $90 trillion perps market outside the US.
They contend that regulatory design will determine whether trading and custody infrastructure migrate onshore rather than remain offshore.