Hyperliquid Policy Center and Phantom Urge CFTC to Clarify That Publishing Onchain Protocol Software Does Not Require Registration Hyperliquid Policy Center (HPC) and Phantom submitted a joint comment letter to the CFTC, urging the agency to modernize its regulatory framework…
r onchain market infrastructure. The letter calls for clarifying that publishing onchain protocol software alone does not require registration, creating a clear pathway for regulated exchanges and clearinghouses to adopt onchain infrastructure, and codifying the Phantom non-action letter into a formal rule
It argues that the current regulatory framework was designed for traditional custodial intermediaries and should be updated to reflect the self-custodial and transparent nature of onchain markets. — link