Hyperliquid Seeks Regulated US Entry Through CFTC, SEC

Hyperliquid, the decentralized perpetual futures exchange, is pushing US regulators for access to the American derivatives market. The company's policy arm, the Hyperliquid Policy Center, has been working through the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to find a path into the regulated market.

Currently, Hyperliquid blocks US users entirely, but its goal is to open up a route for regulated intermediaries to plug into its infrastructure. This would allow American users to access perpetual futures on markets built on Hyperliquid's blockchain technology.

The CFTC and SEC will play a key role in shaping the market for perpetual futures, which currently sit in a regulatory gap between being banned outright and fitting under existing rules. The CFTC has shown some willingness to adapt existing rules rather than leave the gap unaddressed.