{"id":895153,"date":"2026-03-28T06:29:36","date_gmt":"2026-03-28T11:29:36","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/28\/crypto-traders-are-chasing-10x-leverage-in-the-us-while-europe-tightens-the-screws-behind-the-scenes\/"},"modified":"2026-03-28T06:29:36","modified_gmt":"2026-03-28T11:29:36","slug":"crypto-traders-are-chasing-10x-leverage-in-the-us-while-europe-tightens-the-screws-behind-the-scenes","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2026\/03\/28\/crypto-traders-are-chasing-10x-leverage-in-the-us-while-europe-tightens-the-screws-behind-the-scenes\/","title":{"rendered":"Crypto traders are chasing 10x leverage in the US while Europe tightens the screws behind the scenes"},"content":{"rendered":"

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Update (March 2, 2026, 09:44):<\/strong> Fresh scrutiny has shifted to whether the US derivatives regulator has the staffing and operational bandwidth to police fast-growing markets even as it tries to \u201conshore\u201d perpetual-style crypto exposure; the EU\/US policy split described below remains unresolved.<\/p>\n

Two regulators converged on the same market from opposite directions in February 2026.<\/p>\n

The European Securities and Markets Authority warned that derivatives marketed as \u201cperpetual futures\u201d or \u201cperpetual contracts\u201d tied to Bitcoin and Ethereum likely fall within the scope of contracts-for-difference regulations, regardless of what firms call them.<\/p>\n

On Jan. 29, US Commodity Futures Trading Commission (CFTC) Chairman Michael Selig said his agency would use<\/a> its tools to \u201conshore\u201d perpetual and other novel derivative products with appropriate safeguards.<\/p>\n

The stakes are enormous: if perpetual contracts account for roughly<\/a> 60% to 90% of the $85.70 trillion<\/a> in the centralized crypto derivatives market recorded in 2025, regulators are competing to determine where $51 trillion to $77 trillion in annual turnover is legally hosted.<\/p>\n

The fight matters because perpetuals are where price discovery concentrates, fee capture accumulates, and liquidation flows cascade.<\/p>\n

Centralized crypto derivatives trading hit $85.70 trillion in notional volume during 2025, with daily averages around $264.5 billion and a single-day peak of $748 billion on Oct. 10.<\/p>\n

Binance<\/a> alone processed $25.09 trillion, roughly 29.3% of the global total, and the top four venues captured 62.3% of all activity. Kaiko\u2019s<\/a> analysis shows perpetuals accounted for 68% of all Bitcoin<\/a> trading volume in 2025, up from 66% the year prior.<\/p>\n

Whatever the precise share, perpetuals sit at the center of crypto\u2019s derivatives machine, and the regulatory frameworks governing them will determine which jurisdiction captures the clearing fees, custody relationships, and benchmark governance that anchor institutional trust.<\/p>\n

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Binance captured $25.09 trillion or 29.3% of the $85.70 trillion centralized crypto derivatives market in 2025, while the top four venues controlled 62.3% of total volume.<\/figcaption><\/figure>\n

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