According to Jake Chervinsky, the CFTC is currently in a holding pattern pending the confirmation of Quintenz as chair, after which traders can expect significant progress on new rules impacting key crypto sectors such as perpetuals, 24/7 trading, prediction markets, and DeFi protocols and front-ends (source: Jake Chervinsky on Twitter, May 14, 2025). These regulatory advancements may increase market transparency and compliance requirements, affecting trading strategies and liquidity across major crypto assets. Additional regulatory clarity could arrive if broader market structure legislation is passed, impacting both centralized and decentralized trading venues.