The Hyperliquid Policy Center is working to establish a legal and regulated pathway for US users to access onchain perpetual futures markets. The center’s CEO stated that with the right regulatory framework, onchain market infrastructure could deliver greater efficiency than traditional finance.
This move comes as Hyperliquid attracts growing attention from US regulators. Previously, President Trump mentioned that the CFTC was working to “onshore” Hyperliquid—bringing the platform into the US regulatory framework. The new policy center is reportedly part of that effort, with discussions also involving Grayscale.
The core issue: perpetual futures—futures contracts with no expiration date—are immensely popular in crypto but reside in a regulatory gray area in the US. Onchain exchanges like Hyperliquid have previously blocked US users or operated within regulatory uncertainty.
If successful, this effort could set a precedent for how decentralized onchain exchanges interact with US regulators. It also reflects a broader industry-wide reality: as DeFi expands, platforms can no longer rely solely on circumventing regulation—they must forge their own paths to compliance. The question remains how to preserve their decentralized nature while satisfying the legal requirements of a major market like the United States.