#Hyperliquid Labs submitted two formal comment letters to the U.S. Commodity Futures Trading Commission (CFTC) on May 23 in response to recent calls for public input on the future of perpetual swaps and 24/7 derivatives trading.
The letters come after the close of a month-long comment period on two regulatory initiatives launched by the agency in April
#Hyperliquid Cites DeFi’s Capacity to Meet Market Demands
The CFTC’s Requests for Comment (RFCs), titled “Request for Comment on the Use of Perpetual Swaps in U.S. Markets” and “Request for Comment on Round-the-Clock Derivatives Trading,” seek to explore regulatory approaches for continuous trading environments and new types of derivatives products.
The comment period for both RFCs closed on May 21, 2025, following a month-long feedback window. In a public statement, Hyperliquid Labs praised the CFTC’s engagement on these issues, calling them “fundamental to the evolution of global markets.”
The initiatives were introduced under the leadership of Commissioner Caroline Pham, who has been vocal in encouraging dialogue between regulators and the Web3 industry.
In its submissions, Hyperliquid Labs noted the role that decentralized finance can play in shaping the future of financial markets. The organization described DeFi as a powerful tool for improving transparency, efficiency, and user control in financial systems.
“Hyperliquid exemplifies how core DeFi principles can be put into practice to enhance market efficiency, market integrity, and user protection,” the group wrote in a statement released on May 23.
It also urged U.S. regulators to recognize the country’s opportunity to lead in financial innovation by establishing clear and supportive rules for the sector.
The group further indicated how its decentralized model offers a real-world example of DeFi principles in action. Hyperliquid Labs is a contributor to the Hyperliquid blockchain protocol, which supports decentralized perpetual markets.