CFTC Allows Conversion of Perpetual-Style Crypto Futures to True Perpetual Futures

On June 12, 2026, the Commodity Futures Trading Commission (CFTC) issued no-action relief permitting designated contract markets to convert certain existing perpetual-style digital commodity futures contracts into true digital commodity perpetual futures, according to a press release from CryptoCurrencyWire. The action follows recent regulatory guidance clarifying the treatment of perpetual futures tied to bitcoin and other digital commodities with deep, active and continuous spot markets.

Unlike traditional futures contracts, perpetual futures do not expire and are designed to maintain close alignment with the underlying asset’s market price, making them among the most widely traded crypto derivative products globally. The CFTC said exchanges seeking to make the conversion must satisfy specified customer-protection and procedural requirements before implementing the changes. These requirements include providing advance notice to market participants, issuing risk disclosures, and offering opportunities for traders to exit positions before the conversion takes effect.

The no-action relief represents a significant step toward regulatory clarity for crypto derivatives, potentially opening the door for more mainstream adoption of perpetual futures in the United States. Previously, exchanges offering similar products operated in a gray area, often structuring them as contracts with periodic expirations to comply with CFTC rules. This relief allows for a true perpetual structure, which aligns with the products popular on offshore exchanges.

The CFTC emphasized that the relief is limited to digital commodities that have deep and active spot markets, ensuring sufficient liquidity and price discovery. Bitcoin is the most prominent example, but other digital assets meeting the criteria could also qualify. The decision is expected to benefit traders and exchanges by reducing compliance costs and aligning U.S. offerings with global standards.

For more information on the CFTC's guidance, visit the CryptoCurrencyWire website at https://www.CryptoCurrencyWire.com. The full terms of use and disclaimers are available at https://www.CryptoCurrencyWire.com/Disclaimer.