Blockchain Association Seeks Joint Framework for Equity Perpetuals

The Blockchain Association is urging the SEC and CFTC to coordinate on regulating equity perpetuals, a type of derivatives contract that has seen massive volume overseas but remains banned from US trading venues.

The filing, submitted on August 25, proposes using the existing joint security futures framework as a template for regulating equity perpetuals. This approach would adapt what already works rather than inventing new rules from scratch.

The Blockchain Association is not alone in this push. The Hyperliquid Policy Center and Coinbase have also weighed in with similar submissions, creating a united front among some of the crypto industry's most prominent players.

The current setup pushes US traders toward offshore platforms, which often offer fewer investor protections, less transparency, and no recourse if something goes wrong. The $480 billion figure cited by Hyperliquid provides context for the scale of what's at stake, all flowing through venues that US regulators currently have no jurisdiction over.