The Chicago Mercantile Exchange (CME) is challenging the classification of perpetual swaps in a lawsuit, arguing that these novel financial products should be considered futures rather than swaps under the Dodd-Frank Act. Katherine Kirkpatrick Bos, former General Counsel at Starkware, noted that while swaps are defined by Dodd-Frank, futures are not, leaving the Commodity Futures Trading Commission (CFTC) with the discretion to categorize such products. CME contends that the absence of an expiry date is crucial in defining a product as a future. In related legislative activities, the U.S. Senate Banking Committee will discuss "The Affordability Agenda" on Tuesday, while the House Financial Services Committee will explore the "Future of Payments" on Wednesday and "The Future of How America Invests" on Thursday. Additionally, the House Oversight Committee's Subcommittee on Military and Foreign Affairs will hold a hearing on digital currencies.