The HyperLiquid Policy Center, an affiliate of the decentralized exchange HyperLiquid, submitted a letter to the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on the 24th.
They argue that perpetual contracts (perpetual futures) should be classified not as 'swaps' but as 'futures contracts', and are advocating for the adoption of a unified regulatory framework.
As a backdrop, the regulatory authorities have...