- HYPE32196-USD
+2.74%
Hyperliquid (<a href="https://cryptoz7.com/crypto-bridge-loses-nearly-all-of-200000-xrp-in-97-minutes/” title=”Crypto bridge loses nearly all of 200,000 XRP in 97 minutes”>CRYPTO: $HYPE) is exploring a path into the U.S. perpetual futures market as its policy group presses federal regulators for rules that could bring onchain derivatives under a regulated domestic framework.
With a Senate vote on the CLARITY Act delayed, the decentralized exchange is looking for a route through existing regulatory authority rather than waiting for broader crypto legislation. Hyperliquid does not currently offer its trading platform to U.S. users.
Hyperliquid Policy Center CEO Jake Chervinsky said the goal is for regulators to interpret existing rules favourably or create new ones that would allow regulated firms to offer perpetual futures using markets built on Hyperliquid.
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<a href="https://www.cryptoprowl.com/releases/mexc-report-742-of-traditional-finance-users-have-shifted-their-trading-activity-to-crypto-exchanges-6380?ref=yahoo&refid=33″ rel=”nofollow noopener” target=”_blank”>MEXC Report: 74.2% of Traditional Finance Users Have Shifted Their Trading Activity to Crypto Exchanges
The effort has already reached the Commodity Futures Trading Commission. In July, the Hyperliquid Policy Center and Phantom asked the agency to clarify that developers of onchain software should not automatically face exchange or clearinghouse registration requirements. They also urged regulators to let registered firms use blockchain infrastructure for execution, margining, clearing and settlement.
The groups argued that self-custodial markets do not fit neatly into rules written for traditional intermediaries because users retain control of their own funds. Their filing said the current framework leaves “American users” walled off from onchain derivatives while development continues offshore.
That distinction becomes more complicated as Hyperliquid moves beyond crypto-native contracts. About 32% of the platform’s second-quarter trading volume was linked to stocks and other real-world assets, potentially placing parts of the business across both CFTC and Securities and Exchange Commission jurisdiction.
Real-world asset markets have already become a larger part of Hyperliquid’s trading mix, with contracts tied to stocks and other traditional assets expanding alongside its core crypto derivatives business.
A regulated U.S. route would bring Hyperliquid closer to traditional derivatives infrastructure while preserving the self-custody model behind its onchain markets.
Hyperliquid (CRYPTO: HYPE) is currently trading at $55.80 U.S. per digital token.
