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Should the CFTC approve on-chain perps trading in the US? The @HyperliquidX Policy Center officially requests the CFTC to formulate a regulatory framework that will allow on-chain perps trading for U.S. citizens. It is the first formal appeal from a decentralized derivatives
The HyperliquidX Policy Center submitted a formal request to the U.S. Commodity Futures Trading Commission asking it to create rules that would permit on‑chain perpetual futures trading for U.S. investors.
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What happened
The HyperliquidX Policy Center submitted a formal request to the U.S. Commodity Futures Trading Commission asking it to create rules that would permit on‑chain perpetual futures trading for U.S. investors.
Confirmed
Global impact / market context
If approved, U.S. traders could access decentralized perpetual contracts, potentially expanding crypto derivatives volume and bringing more capital onto blockchain platforms, while also raising regulatory oversight concerns.
Analyst inference
Current U.S. regulation limits most crypto derivatives to regulated exchanges; a framework for on‑chain perps would be a new category, influencing how firms allocate resources to compliance and technology development.
Analyst inference
What to watch
- CFTC’s response timeline – a quick decision could accelerate decentralized derivatives adoption, while delays may keep U.S. traders on traditional venues. Analyst inference
- Legislative or agency guidance on how on‑chain contracts meet existing futures rules – clarity will affect how platforms design compliant products. Analyst inference
- Reactions from major crypto exchanges and liquidity providers – they may adjust capital spending or launch competing on‑chain products depending on regulatory outcomes. Analyst inference