Hyperliquid and Phantom urge CFTC not to regulate onchain protocols like traditional exchanges

Hyperliquid Policy Center and Phantom wallet have submitted responses to the CFTC urging the regulator not to treat onchain blockchain protocols the same as traditional brokers and exchanges. Their submissions come in response to a mid-June Request for Information on financial innovation issued jointly by the CFTC and the SEC. Both firms argue that decentralised protocols differ fundamentally from centralised financial institutions and should not face equivalent regulatory burdens.

Should onchain blockchain protocols be regulated like traditional brokers and exchanges?

The Block · 15d ago · Source ↗

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Hyperliquid and Phantom urge CFTC not to regulate onchain protocols like traditional exchanges

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