Regulated Perps vs DeFi: The New U.S. Challenger
The post Regulated Perps vs DeFi: The New U.S. Challenger appeared on BitcoinEthereumNews.com. A regulated U.S. exchange just got the nod to list a bitcoin perpetual. That single sentence, unthinkable a few years ago, resets the race between onchain DEXs and compliant venues. On May 29, 2026, the CFTC approved KalshiEX’s BTCPERP—formally clearing a bitcoin-referenced perpetual futures product to trade under U.S. oversight (CFTC press release (Release No. 9240-26)). Hours later, the agency outlined how it will treat perpetuals going forward and gave clarity on how U.S. firms can route to offshore liquidity pools under conditions. For DeFi perpetual DEXs, a new competitor has arrived—onshore, regulated, and open 24/7. The Big Picture Editor’s note: In Q2 2026 I spent weeks comparing onshore pricing to offshore and DeFi perps during the CFTC’s late‑May actions. Dealers I speak with welcomed the case‑by‑case framework because it clarifies what they must prove in risk reviews, and a few FCM