The U.S. Commodity Futures Trading Commission (CFTC) rejected CME Group's legal standing in a perpetual futures legal dispute, stating that CME failed to demonstrate that the CFTC's policy approval of the first Bitcoin perpetual contract caused it harm. The CFTC filed a motion last Friday, asking a federal judge to dismiss CME's lawsuit, and noted that CME had actually seen an increase in crypto futures trading volume. CME had previously argued that perpetual contracts are swaps, not futures, and should be subject to a different regulatory approach. This case could impact the future of perpetual futures in the United States.