Formal comments endorsing the continuous operation of perpetual derivatives trading were submitted to the U.S. Commodity Futures Trading Commission (CFTC) by the decentralized exchange Hyperliquid.
Hyperliquid, a decentralized perpetuals exchange built on its proprietary layer-1 blockchain, submitted formal comments to the United States Commodity Futures Trading Commission (CFTC) regarding 24/7 derivatives trading.
In a post shared on X on May 23, Hyperliquid Labs announced that it had submitted two comment letters to the Commodity Futures Trading Commission (CFTC) in response to its recent Requests for Comment on perpetual derivatives and 24/7 trading.The team responsible for the decentralized exchange (DEX) further stated:
We commend the CFTC for its proactive engagement on these topics, understanding of which is fundamental to the evolution of global markets.
Hyperliquid stated that it remains firmly dedicated to advancing the decentralized finance (DeFi) ecosystem. The team further asserted that its implementation demonstrates how core DeFi principles can effectively enhance market efficiency, uphold integrity, and protect users.
CFTC Advances 24/7 Crypto Derivatives Trading Plans
Hyperliquid issued its remarks shortly after CFTC Commissioner Summer Mersinger indicated that regulatory approval for crypto perpetual futures contracts in the United States could arrive ‘very soon.’ She stated that perpetual crypto futures ‘can come to market now.’
Mersinger stated that the commission has observed several applications and expects some of those products to begin live trading in the near future. She further expressed that facilitating the return of such trading activity to U.S. markets would be highly beneficial.
Perpetual futures contracts allow traders to speculate on the price of a cryptocurrency without owning the asset. Unlike traditional futures, these contracts have no expiration date and stay aligned with the spot market value through a funding rate system, where long and short positions exchange periodic payments.
Crypto Derivatives Market Heats Up with Expansions and Approvals
The crypto derivatives market has recently seen a surge in activity, highlighted by new product launches, acquisitions, and regulatory updates. Coinbase CEO Brian Armstrong stated that the company plans to explore additional merger and acquisition opportunities following its acquisition of the crypto derivatives platform Deribit.
Armstrong made his remarks after Coinbase agreed to acquire Deribit, one of the largest global platforms for crypto derivatives trading. Europe’s crypto derivatives market is also showing similar activity, reflecting the momentum seen across the Americas.
Major cryptocurrency exchange Gemini recently received regulatory approval to expand its crypto derivatives trading across Europe. Additionally, decentralized finance platform Synthetix announced plans to grow its presence in the crypto derivatives sector by re-acquiring the crypto options platform Derive.
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