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In brief The SEC and CFTC are moving on crypto rulemaking while market-structure legislation sits in summer recess, with a joint look at how derivatives like swaps and perpetual futures should be defined and where each agency's jurisdiction begins. A bipartisan group of former SEC and CFTC officials—including Chris Giancarlo and Brian Quintenz—argued in a Kalshi-sponsored comment letter that similar risks deserve similar treatment, warning that miscalibrated rules keep driving trading overseas.
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