Hyperliquid Advocates for Uniform Perpetual Contract Regulations

The Hyperliquid Policy Center has called on the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to establish harmonized classification standards for perpetual contracts.

The advocacy group argues that regulatory categorization should derive from contractual economic characteristics rather than underlying asset types. This means that perpetual contracts tracking cryptocurrencies, commodities, or equities should receive uniform legal classification regardless of reference market.

Citing the platform's HIP-3 trading markets, which have recorded more than $480 billion in volume across ten months with open interest reaching $4 billion, the Hyperliquid Policy Center believes establishing harmonized regulatory guidelines would enable trading venues to differentiate through market depth and order execution performance rather than exploiting regulatory uncertainty.