Svmuu News: The Chicago Mercantile Exchange Group has filed a lawsuit in the U.S. District Court for the District of Columbia against the U.S. Commodity Futures Trading Commission (CFTC) and its Chairman, Michael Selig, regarding the agency’s routine approval of cryptocurrency perpetual futures.The lawsuit stems from the CFTC’s May 29 approval of perpetual futures contracts linked to the spot price of Bitcoin by the prediction market platform Kalshi, as well as its decision to take no action regarding similar products offered by the Coinbase exchange. In its filing, CME argues that the CFTC’s treatment of “futures” with expiration dates as “swaps” violates directives from the U.S. Congress and the Commodity Exchange Act, and requests that the court rescind the relevant actions regarding perpetual futures. CME also alleges that Selig acted unilaterally without the full panel of five commissioners. A CFTC spokesperson stated that the CME is waging a “legal battle” against the agency and the government’s crypto policies, calling the lawsuit “frivolous.” Kraken has also announced the launch of perpetual futures trading for U.S. users through Bitnomial, a platform regulated by the CFTC.