CFTC Nears Approval of Crypto Perpetual Futures Amid Leadership Shakeup

Outgoing CFTC Commissioner Summer Mersinger revealed Thursday that the agency could soon approve crypto perpetual futures for U.S. markets, signaling a major milestone for digital asset derivatives. Speaking with Bloomberg TV, Mersinger said, “I believe we’ll have some of those products trading live very soon.” Her comments come as the agency faces internal transitions and regulatory uncertainty.

Perpetual futures—financial contracts allowing traders to speculate on assets like Bitcoin or XRP without expiration—are already popular on offshore exchanges. Proponents argue these products could bring more liquidity and 24/7 trading access to U.S. markets, fostering greater participation and market maturity. However, critics warn of heightened risks for retail investors due to leverage and volatility.

Mersinger’s remarks precede her departure to lead the Blockchain Association, a major crypto lobbying group. Her early exit will cut short her second term at the CFTC, initially set to run through 2028. She was nominated by President Biden in 2021 and has consistently supported crypto innovation during her tenure.

Her exit is part of a broader exodus, with three other commissioners—Caroline Pham, Christy Goldsmith Romero, and Kristin Johnson—also planning to step down. This leaves Trump-era appointee Brian Quintenz as the likely remaining commissioner, pending Senate confirmation. Legal experts warn that a diminished commissioner roster could stall enforcement, rulemaking, and inter-agency coordination, placing added pressure on the Senate to accelerate new appointments.

Despite the leadership vacuum, the potential launch of crypto perpetual futures represents a significant regulatory shift and a potential boon for the U.S. crypto market.