The U.S. may finally open the door to perps. CFTC Chair Selig signaled a path for perps to be listed in the U.S. ↓ Perps dominate crypto trading: • Higher volume than spot • Core price discovery layer • Built mostly offshore due to regulatory uncertainty Why offshore? Perps didn’t clearly fit U.S. categories: • Futures → simpler rules • Swaps → heavy post-2008 regulation Perps sat in between. No one wanted to risk misclassification. What’s changing? • CFTC signaling perps can be treated as futures • “No-action relief” reduces enforcement risk during rollout Implication: U.S. institutions can start accessing perps markets directly. That’s a new capital base entering the space. On-chain equity perps already exist (AAPL, TSLA, NVDA). Still early but waiting for regulatory clarity. If this holds, perps move from offshore niche → regulated core market. Author: Stacy Muur 📱 X (Twitter) | 📱 Telegram