{"id":12324,"date":"2026-08-25T03:09:13","date_gmt":"2026-08-25T03:09:13","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=12324"},"modified":"2026-08-25T03:09:13","modified_gmt":"2026-08-25T03:09:13","slug":"falconx-asks-sec-to-bring-single-stock-perpetuals-from-defi-under-swap-rules","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=12324","title":{"rendered":"FalconX asks SEC to bring single-stock perpetuals from DeFi under swap rules"},"content":{"rendered":"

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FalconX Bravo wants US regulators to treat cash-settled perpetuals tied to a single security or a narrow-based security index as security-based swaps under SEC rules when they fall outside the joint SEC-CFTC security-futures framework.<\/p>\n

The filing expressly includes comparable contracts offered through DeFi protocols.<\/p>\n

The firm submitted its proposal to the Securities and Exchange Commission and Commodity Futures Trading Commission on Aug. 12. FalconX Bravo is listed on the CFTC\u2019s registered swap dealer roster and describes its business as focused on digital assets and digital asset market participants.<\/p>\n

FalconX\u2019s definition covers the specified perpetuals and options on them. It does not extend to Bitcoin perpetuals or crypto perpetuals generally.<\/p>\n

A qualifying contract listed as a security futures product on a market authorized by both agencies stays in the joint regime. That route carries listing and market safeguards covering the underlying security or index, clearing, margin, position limits, surveillance, and trading halts.<\/p>\n

FalconX examples include bilateral and over-the-counter transactions, contracts offered by eligible venues or platforms authorized for security-based swaps, non-US venues, and comparable DeFi protocols.<\/p>\n

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For affected dealers, SEC treatment can trigger registration, business-conduct, transaction-reporting, capital, margin, and segregation requirements. A platform may also come within the security-based swap execution framework, depending on its structure and any applicable execution or clearing mandate.<\/p>\n

Dealer status and other duties depend on the participant and transaction, so classification would not automatically require every protocol developer or trader to register.<\/p>\n