🇺🇸 TODAY: The Blockchain Association filed comments urging the SEC and CFTC to coordinate on equity perpetuals, saying clear rules could bring the offshore market onshore.

What happened

The Blockchain Association, a crypto industry group, filed comments asking the SEC and CFTC to work together on rules for equity perpetuals, which are financial contracts tied to stock prices. They believe clear regulations could attract offshore trading activity to the U.S.

Confirmed

Global impact / market context

If U.S. regulators clarify rules for equity perpetuals, trading that currently happens overseas could move here. This would increase revenue for U.S. exchanges and brokers, and give investors more choices, but also requires careful coordination between two agencies.

Analyst inference

Equity perpetuals are a type of derivative, meaning their value comes from an underlying stock. Currently, many such products are offered abroad due to regulatory uncertainty in the U.S. Clearer rules could shift trading volumes and affect how these products are priced and accessed.

Analyst inference

What to watch

1. Watch whether the SEC and CFTC publicly respond to the Blockchain Association's comments, as their reaction will indicate if they are open to coordinating on equity perpetuals. Confirmed
2. Proposed next step: The SEC and CFTC could issue a joint statement or propose new rules for equity perpetuals, which would signal a concrete move toward bringing offshore trading onshore. Proposed
3. If clear rules emerge, expect U.S. exchanges to launch equity perpetual products, potentially increasing trading volumes and competition with offshore venues, which could affect investor choices and fees. Analyst inference

Evidence

• x.com