The US CFTC has approved the conversion of perpetual digital commodity futures contracts into true perpetual futures contracts.

CoinFeed reported on June 14 that the U.S. Commodity Futures Trading Commission (CFTC) Market Surveillance Division has issued an exemption letter to Designated Contract Markets (DCMs), allowing them to convert existing perpetual digital commodity futures contracts into true digital commodity perpetual futures contracts. Under the exemption letter, DCMs can remove the expiration date from existing perpetual digital commodity futures contracts and implement the necessary modifications to convert them into true digital commodity perpetual futures contracts. The conversion is contingent upon meeting several customer protection and procedural conditions specified in the exemption letter. These conditions include: soliciting feedback from market participants holding open positions; providing advance notice and an opportunity to close positions; providing appropriate risk disclosure; and ensuring that no other substantive contract terms are modified.