Hyperliquid Policy Center Calls for Unified SEC-CFTC Rules on Perpetual Contracts

The Hyperliquid Policy Center is urging U.S. regulators to create a single, harmonized framework for perpetual contracts, arguing that these products should be classified based on their economic structure rather than the asset they track. The group says this shift could help bring the rapidly growing perpetuals market fully onshore in the United States.

Outdated Rules Need Modernization

In a comment letter submitted to the SEC and CFTC, the group explained that current regulations were built for a product category that had been largely inactive for years. Without clearer guidelines, disputes over which regulator oversees specific products could end up in court, limiting fair competition between exchanges.

Hyperliquid’s Growing Market Influence

Hyperliquid offers perpetual contracts linked to assets including bitcoin, ether, oil, gold, currencies and stocks, generating over $480 billion in trading volume since launching. The debate intensifies as traditional exchanges like CME push back against expanding perpetual futures access, while political attention around the platform continues to grow following recent comments from President Trump.

 $Hype token is up 40% since then, according to Blockto price data.