Hyperliquid Policy Center Seeks Joint Oversight for Perpetual Futures

The Hyperliquid Policy Center has called for joint oversight of perpetual futures by the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC),

a move that could bring regulatory clarity to a sector plagued by fragmentation.

Perpetual futures are derivative contracts that allow traders to speculate on price movements without an expiry date, but the current asset-based classification has created uncertainty for exchanges and traders.

The Hyperliquid Policy Center's proposal suggests that regulators should focus on the contract's mechanics rather than the underlying asset, aligning with traditional derivatives regulation.