Hyperliquid Labs Responds to CFTC’s Call on Perpetuals

Hyperliquid Labs has stepped into the regulatory spotlight with its latest move—submitting detailed comment letters to the U.S. Commodity Futures Trading Commission (CFTC). 

The letters come in response to the CFTC’s recent call for public input on two hot-button issues in the crypto world: perpetual derivatives and 24/7 trading.

In a public statement and blog post , Hyperliquid Labs made it clear they’re not just building DeFi infrastructure—they’re also ready to help shape the rules that could define its future in the U.S.

“We commend the CFTC for its proactive engagement,” the team said, pointing out that thoughtful regulation is essential if the U.S. wants to stay ahead in financial innovation.

At the heart of their response is a push for a more flexible, principles-based approach to crypto regulation. Hyperliquid Labs posits that attempting to incorporate decentralized technologies into antiquated financial classifications not only fails to grasp the essence but also jeopardizes the advancement of the field.

Instead of focusing on rigid classifications, they want regulators to look at what actually matters: how systems manage risk, protect users, and ensure transparency. And they say DeFi—done right—can excel at all three.

Hyperliquid’s blockchain isn’t just a concept. It’s already live, running 24/7 with no closing bells and no centralized middlemen. That’s one of the reasons they believe platforms like theirs are well-suited for the always-on nature of crypto markets. 

Their system uses on-chain collateral, automated risk management, and public audit trails—features they believe offer stronger protections than traditional setups.

Regarding perpetual derivatives, the team didn’t shy away. They acknowledged the complexity of the product but highlighted its real-world value: deep liquidity, improved price discovery, and round-the-clock accessibility. In their view, bringing these tools fully on-chain doesn’t make them riskier—it actually makes them easier to monitor.

But beyond the technical arguments, there’s a bigger message in Hyperliquid’s letters: DeFi is already here, and it’s working. The question now is whether U.S. policy will support its growth or hold it back.

By directly engaging with the CFTC, Hyperliquid Labs is making a clear statement. They don’t see regulation as something to avoid—they see it as a conversation worth having.

“We’re committed to being a constructive partner,” the statement said, “and we thank the CFTC for the opportunity to contribute our perspective.”

Whether or not Washington listens, Hyperliquid has made its position clear. They’re not just building a blockchain—they’re helping build the rules that will govern it.