Coinbase and Hyperliquid Push for US Regulatory Clarity on Equity Perps

Coinbase and Hyperliquid are pushing for regulatory clarity on equity perpetual futures (perps) in the US. They want the CFTC and SEC to treat equity perps as 'security futures,' allowing them to be listed without extra licenses.

This move would enable US consumers to access these products, which have seen explosive growth offshore, particularly in RWAs (real-world asset tokenization). RWA perps have grown 4X in 2023, with Open Interest rising from $1B in Q1 to over $4.5B as of Q3.

Coinbase's Chief Policy Officer, Faryar Shirzad, emphasizes the need for 'convoluted definitions and jurisdictional overlap' to be addressed so that the US can regulate activity safely and open up opportunities to US consumers.