Hyperliquid founder Jeff Yan shared a take on Bloomberg’s Odd Lots podcast yesterday: if U.S. regulators want to regulate something, they should regulate the operators opening markets on-chain—not the blockchain itself. The blockchain is just the road; the cars are what should be regulated.
Kraken parent company Payward is already planning to use Hyperliquid’s technology to offer derivatives to Americans through a compliant exchange. The CFTC would regulate the operator, while the chain remains untouched. Trump said back in August that the CFTC was working to bring Hyperliquid into the federal framework.
The million-dollar question: if regulators only oversee “the drivers” and not “the road builders,” is that smart—or just exploiting a loophole? Debate in the comments.
$HYPE $BTC
Kraken parent company Payward is already planning to use Hyperliquid’s technology to offer derivatives to Americans through a compliant exchange. The CFTC would regulate the operator, while the chain remains untouched. Trump said back in August that the CFTC was working to bring Hyperliquid into the federal framework.
The million-dollar question: if regulators only oversee “the drivers” and not “the road builders,” is that smart—or just exploiting a loophole? Debate in the comments.
$HYPE $BTC