What happened?
Hyperliquid Labs submitted two formal comment letters to the U.S. Commodity Futures Trading Commission (CFTC) on May 23, 2025. These letters were a response to the CFTC’s calls for public input regarding perpetual swaps and 24/7 derivatives trading. The submission was made after a month-long public comment period that ended on May 21, 2025.
Who does this affect?
This development affects participants in the decentralized finance (DeFi) sector and traditional financial markets. It also impacts U.S. regulators and blockchain projects looking to shape the regulatory landscape for derivatives trading. Additionally, organizations like Coinbase, Uniswap, and dYdX, which are actively engaging with CFTC’s consultations, are directly affected.
Why does this matter?
The engagement by Hyperliquid Labs and other industry leaders could influence future regulations governing perpetual swaps and 24/7 derivatives trading. Regulatory clarity and supportive frameworks might foster innovation and growth within the DeFi sector. As a result, the market could see increased transparency, efficiency, and user protection, driving wider adoption of decentralized financial systems.