2/ @ChairmanSelig recently stated that perpetuals are “widely used tools for risk management and price discovery” with “clear market demand.”

But regulatory uncertainty has prevented them from flourishing in the United States.

— Blockchain Association (@BlockchainAssn) February 25, 2026

4/ Our petition asks the Commission to use its authority under CEA Section 4(c) to provide a clear, workable regulatory path for perpetual digital asset derivatives to trade and clear in the United States.

— Blockchain Association (@BlockchainAssn) February 25, 2026

6/ Perpetuals traded on organized markets closely resemble futures: standardized contracts, margining, continuous mark-to-market, and exchange-level risk management.

— Blockchain Association (@BlockchainAssn) February 25, 2026

8/ We also request narrow, practical relief for rules that assume expiring contracts (like references to a “delivery month”) – since perpetuals are designed to be open-ended.

— Blockchain Association (@BlockchainAssn) February 25, 2026

10/ To be clear about scope, BA recognizes that on-chain perpetuals may raise distinct considerations, and nothing in this petition should be read as expressing a view on the appropriate regulatory treatment of on-chain decentralized perpetual exchanges.

— Blockchain Association (@BlockchainAssn) February 25, 2026