The U.S. Securities and Exchange Commission (SEC) submitted an amicus brief to the court in support of the Commodity Futures Trading Commission (CFTC)’s decision to approve U.S. individual stock perpetual futures trading. Previously, the Capital Markets Alliance (CMA), an industry association including Cboe and Citadel Securities, filed a lawsuit, arguing that such products should be regulated by the SEC and that the CFTC’s approval violated the Administrative Procedure Act, requesting the court to revoke the relevant approval. The SEC refuted the accusation that the CFTC acted beyond its authority, emphasizing that the CFTC’s rule changes are also subject to SEC review and that the two agencies continue to cooperate in regulating individual stock perpetual derivatives. Crypto industry companies such as Coinbase, Kalshi, and Kraken parent company Payward jointly submitted submissions in support of the CFTC. The listing of U.S. individual stock perpetual futures applied by three companies was deemed approved on November 2. (The Block)

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