The U.S. Commodity Futures Trading Commission (CFTC) filed a motion to dismiss a lawsuit filed by the Chicago Mercantile Exchange (CME) over cryptocurrency perpetual futures, arguing that CME lacked standing to sue for competitive harm.
The lawsuit brought to court by the Chicago Mercantile Exchange (CME) was dismissed by the CFTC with one sentence.
The U.S. Commodity Futures Trading Commission (CFTC) submitted documents to the court, formally applying to dismiss CME’s lawsuit against cryptocurrency perpetual futures. According to The Block report, the CFTC directly described the case as "much ado about nothing" in its petition document.
The CFTC's core argument is straightforward: CME has no standing to litigate on claims of "competitive injury." The reason is that CME itself is a regulated designated contract market (DCM) and can list cryptocurrency perpetual futures contracts on its own without any restrictions or exclusions. In other words, if CME believes that it is at a competitive disadvantage in this market, the solution is not to file a lawsuit but to start selling on its own.
The material does not provide the time when the lawsuit was first filed, the specific content of the claims, nor the response from CME or the court to the rejection of the claim. Follow-up progress remains to be seen.
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