CFTC Chair Michael Selig Aims For U.S. Crypto Perpetual Futures In a Month

TLDR

Table of Contents

Selig said U.S. crypto perpetual futures could launch in about a month.
He said guidance allowing the products is expected within weeks.
Project Crypto links CFTC and SEC work on aligned crypto market oversight.
Draft approach includes leverage limits and added transparency for trading venues.

Perpetual futures trading may reach U.S. crypto markets within about a month. CFTC Chair Michael Selig said guidance to support the launch could come within weeks. Selig spoke Tuesday at a Milken Institute event in Washington. He described a push to move perpetual trading onshore and under U.S. rules.

Selig sets a near term goal for U.S. perpetual futures

Selig said the agency is working toward “true perpetual futures” in the United States. He added that the target is “within the next month or so.”

Perpetual futures are widely used on offshore crypto exchanges. In the U.S., these products have faced limits due to regulatory uncertainty. Selig has tied the effort to building compliant domestic alternatives. He also pointed to the need for clear standards for trading and risk controls.

🚨BREAKING: The new CFTC Chair – Mike Selig says that the US plans to approve crypto perpetual futures within the next month! #XRP
💥CRYPTO HOLDERS ARE ABOUT TO CREATE GENERATIONAL WEALTH💥 pic.twitter.com/mouyxBcJWg
— JackTheRippler ©️ (@RippleXrpie) March 3, 2026

How perpetual futures work and why they draw attention

Perpetual futures do not have an expiration date. Traders can keep positions open while exchanges apply periodic funding payments. Funding rates aim to keep the contract price near the spot market price.

These rates can shift as market demand changes for long or short positions.Offshore venues have long led this market. Platforms such as Binance and Bybit have hosted large perpetual volumes.

U.S. regulators have raised concerns about leverage and platform controls offshore. They have also cited gaps in disclosures and surveillance in some foreign markets.

Prior steps that shaped the current CFTC approach

Selig first described a framework for these products at Milken on May 6, 2025.
He presented the plan during the Milken Institute Global Conference. The CFTC also cited earlier moves to expand regulated crypto activity. On December 4, 2025, Acting Chair Caroline Pham authorized listed spot crypto products.

That decision supported spot listings on regulated exchanges. It also set groundwork for more activity tied to regulated crypto market structure. The CFTC has claimed jurisdiction over crypto derivatives since 2015. That position has guided its role in policing and registering derivatives activity.

Project Crypto and expected guardrails for onshore trading

In late January 2026, Selig and SEC Chair Paul Atkins launched Project Crypto. The initiative aims to align oversight and support compliant onshore trading. The effort signals closer coordination between the two agencies. It also seeks clearer boundaries for products that touch both securities and derivatives.

Selig said the coming approach will include limits that address key risks. Regulators are expected to set leverage caps and stronger transparency rules.

Those requirements may focus on reporting, disclosures, and monitoring of trading activity.
They may also address how platforms manage funding rates and liquidation systems.Selig framed the goal as moving activity into regulated U.S. venues. He linked that goal to reducing reliance on unregulated foreign platforms.