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EVENT / TOPICHistorical

Hyperliquid Founder Proposes U.S. Oversight of Trading Platforms, Not the Blockchain Itself

1 reports1 sources10/15/2026 updated

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Jeff Yan, founder of the decentralized derivatives platform Hyperliquid, argues that U.S. regulators should oversee the financial institutions operating on the blockchain rather than the blockchain network itself. Yan’s proposal would allow Wall‑Street firms to establish regulated trading operations on Hyperliquid without having to register the underlying blockchain as a traditional exchange. This stance contrasts with earlier calls to regulate blockchain technology directly. Yan’s view suggests a shift toward treating blockchain‑based platforms as extensions of existing financial infrastructure, potentially easing regulatory burdens for established firms while maintaining oversight of their trading activities.

Written with AI from the reporting · updated 10/15/2026

Latest developmentOct 15, 18:00
Hyperliquid Founder Jeff Yan Advocates for U.S. Oversight of Trading Firms, Not Blockchain Network
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  1. 1Unclassified fact stationOct 15, 00:00recorded Oct 15, 22:26single sourcerevised

    Hyperliquid founder advocates U.S. oversight of trading plat

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    Evidence & revisions · 1 source records
    Subject：
    Jeff Yan
    Action：
    advocates U.S. regulators to oversee financial firms using his blockchain
    Object：
    financial firms operating on the blockchain
    Occurred (fact side)：
    Oct 15, 00:00
    CoinDesk ↗Report pageRevision 2 · currently revised
    Published (valid side)：
    Oct 15, 18:00
    First seen (known side)：
    Oct 15, 22:26
    Fact stationSingle source · one-sided claimRevised

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Oct 15
  1. CoinDeskRelated fact: single sourceSource report revised
    Hyperliquid Founder Jeff Yan Advocates for U.S. Oversight of Trading Firms, Not Blockchain Network

    Report first recorded Oct 15, 22:26

    Hyperliquid founder Jeff Yan said U.S. regulators should oversee financial firms operating on the blockchain, not the network itself, arguing that regulation belongs at the layer where controls are exercised. This proposal could enable Wall Street firms to build regulated trading businesses on Hyperliquid without requiring the blockchain to register as an exchange. Kraken's parent company, Payward, plans to offer U.S. investors derivatives using Hyperliquid’s technology through a regulated exchange, despite Hyperliquid's perpetual futures market currently being closed to U.S. customers.

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