Hyperliquid has urged the CFTC to support onchain perpetual futures, saying blockchain can modernize U.S. derivatives markets while improving access.
The Hyperliquid Policy Center (HPC) wants to establish a regulatory framework for blockchain-based perpetual futures in the U.S. In a new proposal submitted to the Commodity Futures Trading Commission (CFTC), the group said on-chain derivatives can make markets more accessible, improve risk management, and help modernize the country's financial infrastructure.
HPC filed a formal statement with the CFTC's Agricultural Advisory Committee, urging the regulator to continue building a framework that supports on-chain perpetual futures in the United States.
The submission follows the committee's July 29 meeting, where members discussed market modernization, risk management tools, and the growing demand for 24/7 trading.
Rather than asking regulators to rush new products into the market, HPC backed the CFTC's gradual approach. It said new derivatives should be introduced carefully while allowing market demand to guide adoption.
The organization also offered to support regulators through research and education as they evaluate blockchain-based financial products.
Unlike traditional futures contracts, perpetual futures do not have an expiration date. Traders can keep positions open as long as they maintain enough collateral, making the product one of the most widely used derivatives in the crypto market.
HPC believes bringing these products under a regulated U.S. framework would give investors and businesses more choices while keeping them inside regulated financial markets.
The group said agricultural producers, processors, and other commercial users benefit when they have multiple ways to manage price risk instead of relying on only one type of financial contract.
According to the statement, regulators should avoid limiting innovation before understanding how new products could serve market participants.
If the CFTC accepts Hyperliquid's proposal, it could become a major win for the platform.
One of the biggest benefits is access to the U.S. market. Many U.S. users have been unable to use offshore decentralized exchanges because of strict rules. Clear regulations could allow Hyperliquid to attract more retail and institutional traders legally.
The proposal could also encourage banks and traditional financial firms to use blockchain for trading and settlement. This would create new partnership opportunities for Hyperliquid and strengthen its position in the market.
At the same time, Hyperliquid is trying to stay ahead of growing competition. Companies like Coinbase and Kalshi have pushed to launch regulated perpetual futures in the U.S.; Hyperliquid wants decentralized platforms to receive the same regulatory treatment.
In 2025, Hyperliquid processed around $2.9 trillion in perpetual futures trading without serving the U.S. market. If regulations become more favorable, the platform could attract even more trading activity and increase its revenue.
The policy proposal comes as Hyperliquid continues expanding its presence in the decentralized derivatives market.
The market has historically responded violently to positive regulatory news for Hyperliquid. When the CFTC initially cleared the path for U.S. crypto perps earlier this year, the HYPE token reacted instantly, surging over 30% to a then-new all-time high.
Although the filing does not immediately change U.S. regulations, it signals that the platform is actively engaging with policymakers rather than waiting for new rules to emerge.
Despite the positive regulatory engagement, HYPE traded at around $54 at the time of writing this report.
The policy submission did not trigger a major price reaction, as investors continue focusing on overall market conditions.
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