CFTC Seeks Public Input on Crypto-Style 24/7 Derivatives Market

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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April 21, 2025

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The US Commodity Futures Trading Commission (CFTC) is seeking public feedback on the possibility of allowing round-the-clock derivatives trading and introducing perpetual futures contracts.

The move would bring traditional markets closer in line with the cryptocurrency sector, which has long operated on a 24/7 basis.

In a statement released Monday, acting CFTC Chairman Caroline Pham said the agency must take a forward-looking approach to evolving market structures. “The CFTC must take a forward-looking approach to shifts in market structure to ensure our markets remain vibrant and resilient while protecting all participants,” she said. “One evolving trend is the move to 24/7, 24/6, or 24/5 trading hours.”

CFTC Proposal Follows Industry Trend Toward Always-On Market Access

The request for comment comes as market participants increasingly push for more flexible trading windows. US equities exchanges are already expanding access. The Securities and Exchange Commission has approved 24 Exchange to operate nearly around the clock five days a week, while Nasdaq has announced similar plans. Brokers like Robinhood already allow 24-hour trading during the workweek.

Crypto exchanges, in contrast, have offered continuous trading for years. Traders can buy and sell digital assets at any hour, across borders, with high liquidity and real-time price discovery.

The CFTC’s proposal suggests a willingness to align traditional derivatives markets with this model, a shift that could increase accessibility for global participants and enhance responsiveness to macroeconomic events.

With Trump-Era Shift in Tone, CFTC Tests Market Appetite for Perps

The agency is also considering whether to allow perpetual futures, a contract type widely used in crypto markets but still largely unavailable to US traders. These contracts, known as “perps,” do not expire and are settled continuously throughout the day. Coinbase and other digital asset platforms have expressed interest in launching 24/7 and perpetual-style products in the US.

The CFTC’s role is expected to expand under the Trump administration. The agency is set to take on broader oversight of the digital asset market. This shift comes alongside recent moves to ease scrutiny over clearing and trading risks. Together, these changes signal a softer regulatory stance toward the crypto sector.

Still, the CFTC is cautious about the risks. The agency is asking for feedback on how 24/7 trading could affect trading, clearing and risk management. It is especially focused on areas like market integrity, customer protection and retail participation. Further, the agency also pointed to challenges in supervising a market that never closes.

Comments on the proposal will be accepted until May 21. The request follows a broader trend under the Trump administration to ease oversight in commodity markets. This includes reduced scrutiny of digital assets. It also signals growing regulatory interest in modernizing financial infrastructure.