The companies urged the regulator to exempt blockchain developers and non-custodial wallet providers from rules designed for traditional financial intermediaries.
The post Hyperliquid Policy Center And Phantom Pressure CFTC To Modernize Onchain Software Rules appeared on BitcoinEthereumNews.com.
The push to get U.S. regulators to adapt their rulebooks to onchain reality just gained new momentum. Hyperliquid Policy Center (HPC) and Phantom submitted a joint comment letter to the Commodity Futures Trading Commission, as detailed in the original report. The letter asks the agency to modernize its regulatory framework so that publishing onchain protocol software does not, by itself, trigger registration requirements. The filing arrives at a delicate moment for decentralized exchange infrastructure. Hyperliquid has grown into a leading derivatives venue built entirely on a self-custodial model, while Phantom’s non-custodial wallet reaches millions of users across Solana, Ethereum, and Bitcoin. Together they represent a growing cohort of protocols that argue the CFTC’s existing rules were written for custodial intermediaries—centralized order books, b
The post Hyperliquid Urges CFTC to Exempt DeFi From Legacy Rules in July 9 Filing appeared on BitcoinEthereumNews.com.
Hyperliquid News The Hyperliquid Policy Center (HPC), together with non-custodial wallet provider Phantom, has formally asked the US Commodity Futures Trading Commission (CFTC) to stop treating decentralized finance like traditional financial intermediaries. The joint comment, filed ahead of the agency’s July 9 deadline, argues that on-chain protocol software and self-custody wallets are tools, not brokers, and that the derivatives rulebook was never written for them. The filing responds to a Request for Information the CFTC issued on June 18, which invited the industry to identify rules that obstruct financial technology. HPC frames the submission as squarely within the commission’s existing authority to act. The comment lays out three concrete requests. First, it asks the CFTC to confirm that publishing on-chain protocol code does not, by itself, require registration
Modernizing CFTC rules could foster US-based onchain derivatives innovation, reducing offshore reliance and enhancing market efficiency.
The post Phantom and Hyperliquid urge CFTC to modernize onchain derivatives rules appeared first on Crypto Briefing.
The post White House Says it Received no Democratic Response Related to SEC, CFTC Vacancies appeared on BitcoinEthereumNews.com.
White House officials claimed that they had “not received names” in response to requests to Senate Democrats for potential commissioners to two US financial regulatory agencies. In a Thursday letter to US Senate majority leader John Thune and minority leader Chuck Schumer, White House officials said that they had already solicited names from Senate Democrats for the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The leadership panels of both financial agencies are understaffed, with only Republican members nominated and confirmed by the Senate. The letter came in response to a June 10 request from 12 Senate Democrats over staffing concerns at US federal agencies, including the SEC and CFTC. Although US President Donald Trump has put forward some Democratic names for positions at agencies, including the National Labor
The post CME Group hits CFTC roadblock as 24/7 crude futures face delay appeared on BitcoinEthereumNews.com.
CME Group has faced a regulatory setback after the U.S. Commodity Futures Trading Commission delayed the immediate launch of its planned 24/7 crude oil futures trading. Summary The CFTC has delayed CME Group’s planned 24/7 crude oil futures launch pending further regulatory review. Regulators said CME’s self-certified filing requires additional examination due to legal and market concerns. Despite the setback, CME still expects to launch Treasury Link in Q4 2026, subject to approval. According to a press release issued by the U.S. Commodity Futures Trading Commission, the agency invoked its authority under existing regulations to temporarily halt the listing process for CME Group’s proposed around-the-clock crude oil futures contract. The decision came after CME chose to self-certify the product while the regulator was still reviewing the implications of continuous futures tradi
CME Group has faced a regulatory setback after the U.S. Commodity Futures Trading Commission delayed the immediate launch of its planned 24/7 crude oil futures trading. According to a press release issued by the U.S. Commodity Futures Trading Commission, the…
The post CZ Compares Binance KYC With Hyperliquid Model appeared on BitcoinEthereumNews.com.
CZ says Binance’s weak KYC led to prison while Hyperliquid runs no-KYC smart contracts under a different trading model. Binance founder Changpeng Zhao, known as CZ, discussed Hyperliquid in a June 29 interview with The Block. He praised its market design but noted clear differences from centralized exchanges. CZ said Hyperliquid uses smart contracts without standard identity checks for users. He compared that model with Binance’s past compliance problems. He said he went to prison over Binance’s weak KYC controls. Meanwhile, he noted that Hyperliquid operates without KYC. His comments have renewed debate around exchange rules, user freedom, and decentralized trading. The discussion also places Hyperliquid’s control structure under market attention. CZ Compares Binance and Hyperliquid CZ said Hyperliquid has introduced useful ideas for on-chain trading. However, he said its model differs from B
The post Phantom and Hyperliquid Seek CFTC Clarity on DeFi Infrastructure appeared on BitcoinEthereumNews.com.
Crypto wallet provider Phantom and the Hyperliquid Policy Center have urged the US Commodity Futures Trading Commission (CFTC) to exempt blockchain protocol developers and non-custodial wallet providers from regulations designed for traditional financial intermediaries. In response to a CFTC request for information on regulations affecting fintech firms, the companies asked the agency to confirm that blockchain protocol developers do not have to register solely for creating onchain software, issue guidance allowing regulated derivatives firms to use blockchain infrastructure, and codify exemptions preventing non-custodial wallet providers from being treated as introducing brokers. The companies argued that existing CFTC regulations were designed for custodial financial intermediaries that hold customer assets and process trades, while onchain protocols allow users to transact
