Hyperliquid founder Jeff Yan wants U.S. regulators to oversee financial firms using his blockchain rather than the network itself.
Companies operating trading markets on Hyperliquid should be responsible for meeting regulatory requirements, much like financial firms using internet infrastructure, Yan said Thursday in a Bloomberg interview.
“The regulation sits at the layer where there are controls, and indeed the deployers are the ones that exercise these controls,” Yan said.
Hyperliquid, best known for its eponymous perpetual futures trading platform, remains closed to U.S. customers.
However, Kraken’s parent company, Payward, plans to offer investors in the country derivatives using Hyperliquid’s technology through a regulated exchange. For Hyperliquid, this means it could add a Commodity Futures Trading Commission (CFTC) regulated operator even though its perps market remains unavailable to U.S. customers.
Yan’s proposal…
