Hyperliquid and trade.XYZ Push for Unified Perpetual Regulation in US

Hyperliquid and trade.XYZ have jointly submitted comments to the Commodity Futures Trading Commission (CFTC) requesting unified regulation for perpetual contracts in the US. This move comes as the CFTC is developing a comprehensive regulatory framework for digital assets, following Congressional uncertainty surrounding the Clarity Act.

In a formal comment filed with the SEC and CFTC, Hyperliquid demanded a strong, unified approach to U.S. perpetual regulation. The document asked for clarity on taxonomy, trading conditions, and risk management practices.

Kalshi is also seeking CFTC approval for COPPERPERP, a cash-settled copper perpetual with no expiration, referencing Pyth Network's copper price feed. Meanwhile, the CFTC has issued consent orders against former Alameda CEO Caroline Ellison and FTX Co-Founder Gary Wang, imposing a five-year trading ban on both.