SEC Reportedly Backs CFTC Against Stock-Perps Injunction
By Unchained
AI summary of the source article
The SEC filed a court brief supporting the CFTC against an injunction over single-stock perpetual futures. The agency opposed the injunction sought by the Capital Markets Alliance but did not determine whether the contracts are futures or swaps.
Why it matters
The filing "puts the agency’s current leadership and two of its former senior officials on opposite sides of the same case."
Key facts
- Applications from Coinbase, Kalshi, and Bitnomial to offer single-stock perps were deemed approved by the CFTC on Nov. 2.
- The Capital Markets Alliance sued the CFTC in the Southern District of New York, claiming single-stock perps are security-based swaps overseen by the SEC.
- The SEC opposed the preliminary injunction, stating it coordinates with the CFTC, but took no position on whether the products are futures or swaps.
Source excerpt · Unchained
The SEC reportedly filed a brief supporting the CFTC, while Better Markets and two former SEC officials asked a federal judge to block perpetual futures on U.S. stocks. The post SEC Reportedly Backs CFTC Against Stock-Perps Injunction appeared first on Unchained .