Hyperliquid and Phantom Urge CFTC to Exempt DeFi From Legacy Derivatives Rules on July 9

HYPE1.18%
The Hyperliquid Policy Center and non-custodial wallet provider Phantom filed a joint comment with the Commodity Futures Trading Commission (CFTC) on July 9, asking the agency to exempt decentralized finance from legacy derivatives rules. The two argued that onchain software and self-custodial wallets are tools, not intermediaries subject to existing regulations. Their submission, made ahead of the CFTC's July 9 comment deadline in response to a June 18 request for information, requested confirmation that publishing protocol software does not require exchange or clearinghouse registration, that registered entities be allowed to operate onchain, and that Phantom's previous no-action relief be formalized into a rule for other wallet providers.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments