According to the Hyperliquid Policy Center, U.S. rules for onchain derivatives lag decentralized market structure, as 2025 perpetuals volume topped $6.5 trillion and the group called for a clearer compliance path.
Hyperliquid’s U.S.-based Hyperliquid Policy Center said the United States needs a dedicated regulatory framework for onchain derivatives, arguing that existing laws were designed for centralized intermediaries and do not provide a workable compliance path for decentralized trading. In its statement, the center said 2025 perpetuals trading volume exceeded $6.5 trillion, highlighting the scale of the market it wants addressed. The group said clearer rules are needed to preserve domestic access and support industry growth, extending Hyperliquid’s broader push for legal clarity around onchain perpetual contracts and related digital asset markets.