Hyperliquid Policy Center pushes back against CME and ICE regulatory concerns
The Hyperliquid Policy Center argued the platform improves market transparency as legacy exchanges raise concerns over oil trading risks.
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Add us on Google by Estefano Gomez May. 15, 2026The Hyperliquid Policy Center pushed back against reported efforts by CME Group and Intercontinental Exchange to increase regulatory pressure on Hyperliquid, arguing that the onchain derivatives platform offers a more transparent model for market integrity.
Today, Bloomberg reported on certain incumbent traditional exchanges raising concerns about the integrity and impact of markets for perpetual derivatives on Hyperliquid.
These concerns are unfounded.
Hyperliquid offers enhanced market transparency, publishing a complete onchain…
— Hyperliquid Policy Center (@HyperliquidPC) May 15, 2026
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Bloomberg reported that CME and ICE have been speaking with lawmakers about risks they say Hyperliquid could pose, especially around possible manipulation in global oil markets.
The exchanges are reportedly pressing for Hyperliquid to register with the Commodity Futures Trading Commission, which would bring the platform under US derivatives oversight and require more customer tracking and trade monitoring.
The dispute comes as Hyperliquid has grown into a major venue for onchain perpetual futures and commodity-linked trading. Bloomberg previously reported that oil trading had become a major source of activity on Hyperliquid, which operates around the clock and outside traditional market hours.
The Hyperliquid Policy Center said Friday that 24/7 trading improves market efficiency because prices continue moving even when traditional exchanges are closed. The group argued that continuous trading reduces gaps between legacy market hours and improves price discovery for market participants.
The advocacy group also said Hyperliquid publishes a complete onchain record of every transaction in real time, making the platform harder to use for insider trading or price manipulation. It argued that this transparency can help regulators and law enforcement with surveillance, detection, and investigations.
The group said current US law is not designed for derivatives markets running on public blockchains. Its website describes the organization as an independent research and advocacy group focused on creating a regulated path for Americans to access decentralized markets, with a focus on perpetual derivatives and onchain financial infrastructure.
Hyperliquid founder Jeff Yan said Friday that he had spent the past few days in Washington with the Hyperliquid Policy Center meeting policymakers during the advancement of the CLARITY Act. Yan said the meetings covered Hyperliquid, the benefits of onchain markets for American consumers, and the regulatory path for bringing onchain derivatives markets into the US.
Yan said some discussions were technical and showed an impressive baseline understanding of Hyperliquid, while others focused on a first principles introduction to DeFi and onchain markets. He said it was encouraging to see bipartisan support for thoughtful crypto regulation and added that he would continue working in Washington to make American access to Hyperliquid a reality.
The regulatory debate is unfolding as institutional products tied to Hyperliquid gain traction. 21Shares launched a Hyperliquid ETF this week, while Bitwise’s Hyperliquid ETF began trading on the NYSE earlier today. HYPE was last trading near $44.40 at press time, up 0.5% on the day.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
