Hyperliquid Policy Center Calls for Joint SEC-CFTC Oversight of Perpetual Futures

Hyperliquid's policy arm has called for the SEC and CFTC to establish coordinated oversight of perpetual futures contracts. The center argues that certain equity-based perpetuals should be classified as security futures, requiring alignment between the two regulators on ruleset standards. The proposal suggests joint jurisdiction could reduce regulatory ambiguity around how different perpetual products are treated across U.S. crypto oversight.

The move reflects broader industry tension over which regulator should govern various derivatives products. By advocating for explicit classification and shared rules, Hyperliquid is positioning perpetuals within a clearer legal framework rather than leaving them in a gray zone between securities and commodities regulation.

• Hyperliquid is pushing for SEC and CFTC to coordinate perpetual futures rules and classify certain equity perpetuals as security futures.
• The proposal aims to reduce regulatory ambiguity by establishing joint oversight rather than competing jurisdictional claims.
• The initiative signals industry appetite for clearer legal categorization of derivatives products amid ongoing U.S. regulatory uncertainty.