Founder Jeff Yan told Bloomberg that U.S. regulators should oversee the firms operating trading markets on the blockchain rather than the network itself. He argued those deployers, not the underlying infrastructure, should meet regulatory requirements, which would let Wall Street firms run regulated trading businesses on Hyperliquid without the blockchain registering as an exchange. Hyperliquid remains closed to U.S. customers, but Payward, Kraken's parent, plans to offer U.S. investors derivatives using Hyperliquid's technology through a regulated exchange. His comments follow President Donald Trump's August statement that the Commodity Futures Trading Commission (CFTC) was working to bring Hyperliquid under federal regulation.
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