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Crypto perp futures coming ‘very soon,’ says CFTC’s Mersinger
CFTC Commissioner Hints at Major Breakthrough for U.S. Crypto Derivatives Market
Summer Mersinger, outgoing Commissioner of the Commodities and Futures Trading Commission (CFTC), has confirmed that crypto perpetual futures contracts may soon be live and regulated in the United States.
“We’re seeing some applications, and I believe we’ll see some of those products trading live very soon,” Mersinger said in a May 22 interview with Bloomberg TV.
What Are Perpetual Futures?
- Crypto perpetual futures are derivatives that allow traders to speculate on asset prices without owning the actual cryptocurrencies.
- Unlike traditional futures, perpetuals have no expiration date and are typically traded with high leverage.
- Currently, they are banned in the U.S. and are mostly traded on offshore platforms like:
- Binance (~$95B/day in trading volume)
- OKX
- Bybit
Bringing Trading Back Onshore
Mersinger emphasized that enabling these products in the U.S. would:
- Benefit the crypto industry broadly
- Promote market transparency
- Make the U.S. a hub for regulated crypto derivatives
“It would be great to get that trading back onshore in the United States,” she added.
Mersinger’s Next Move: Blockchain Association
- Mersinger will step down from the CFTC at the end of May.
- She will become CEO of the Blockchain Association on June 2, replacing Kristin Smith.
- The association has over 100 member organizations representing the broader crypto economy.
“We have a strong incoming chairman at the CFTC who will be a real advocate for the industry,” she noted.
GENIUS Act Vote Signals Momentum
- Mersinger also referenced the procedural advancement of the GENIUS stablecoin bill, calling it a sign that:
“This asset class is clearly here to stay.”
- She believes this momentum will help establish the U.S. as a global economic leader in digital assets.
🧠 Takeaway: With perpetual futures likely heading stateside and Mersinger stepping into a prominent advocacy role, the U.S. crypto derivatives landscape may be poised for a major regulatory evolution.
@ Newshounds News™
Source: Cointelegraph
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BRICS: DEMAND FOR US DOLLAR GROWS IN OIL PAYMENTS, LOCAL CURRENCY DIPS
BRICS De-Dollarization Strategy Backfires in Nigeria
The BRICS alliance’s push to replace the US dollar with local currencies in oil transactions has hit a major setback.
In October, Nigeria adopted the BRICS-inspired policy, announcing that oil refiners must accept the Nigerian naira instead of USD to boost the national currency.
- Oil companies complied initially.
- But the naira quickly depreciated, inflicting heavy losses on refiners.
- Dissatisfaction spread as unions and industry lobbies pressured the government to reverse course.
Nigeria is now paying a steep price for ditching the US dollar in favor of the naira for oil payments.
Refiners Push to Return to the Dollar
Despite BRICS’ call to de-dollarize oil settlements, market forces tell a different story:
- The US dollar is regaining demand in Nigeria’s oil sector.
- Refiners are actively seeking to return to USD payments to preserve profit margins.
“The naira’s depreciation was driven by demand-side concerns, with individuals and businesses rushing to buy dollars,” reported NairaMetrics.
Implications for BRICS and Global Oil Markets
- The US dollar remains entrenched in the oil and gas industry.
- Attempts to eliminate it without proper coordination can destabilize local economies.
- The BRICS agenda of local currency usage could face similar backlash in other member or allied nations.
“The greenback is a strong force in the energy sector and upending it will only end up hurting your arm.”
🧠 Takeaway: Nigeria’s failed attempt at local currency oil payments highlights the dominance of the USD in global energy markets. The BRICS de-dollarization dream may be hitting the harsh reality of economic fundamentals and market resistance.
@ Newshounds News™
Source: Watcher Guru
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