Choose Rich Live
Crypto News

Hyperliquid founder Jeff Yan urges US regulators to focus on market operators

Hyperliquid founder Jeff Yan told Bloomberg that U.S. authorities should regulate market operators rather than the underlying blockchain, an approach he said could connect the network with Wall Street.

Hyperliquid founder Jeff Yan wearing glasses and a green hoodie while speaking.
Image: @cryptodotnews

Hyperliquid founder Jeff Yan is advocating for a U.S. regulatory framework focused on market operators instead of blockchain networks themselves. Speaking to Bloomberg, Yan argued that firms running markets on Hyperliquid should bear regulatory obligations. He suggested this approach could open the network to Wall Street participants without subjecting the protocol to rules designed for traditional exchanges.[2][3]

Yan also warned that Americans accessing Hyperliquid via virtual private networks (VPNs) violate the platform's terms of service. For lawful access to materialize in the United States, the industry continues to await regulatory clarity regarding how onchain trading conforms to Commodity Futures Trading Commission (CFTC) requirements. Shifting regulatory scrutiny directly to market operators could reshape compliance models, market access, and broader sentiment across decentralized finance, according to Crypto Briefing.[1][2][3]

Key facts

  • Hyperliquid founder Jeff Yan told Bloomberg that U.S. regulators should focus on market operators rather than the blockchain itself.
  • Yan proposed placing regulatory requirements on firms operating markets on Hyperliquid, potentially opening the platform to Wall Street without classifying it as a traditional exchange.
  • Yan confirmed that Americans using VPNs to access Hyperliquid violate the platform's terms of service.
  • Legal access in the U.S. remains dependent on regulatory clarity over how onchain trading fits CFTC requirements.
  • According to Crypto Briefing, focusing regulatory attention on market operators could influence compliance strategies, market access, and sentiment in decentralized finance.

Sources 路 3 sources

  1. CB

    Crypto BriefingArticle 路

    Hyperliquid founder urges US focus on market operators for regulatory access Shifting regulatory focus to market operators could reshape compliance strategies, impacting market access and sentiment in decentralized finance. The post Hyperliquid founder urges US focus on market operators for regulatory access appeared first on Crypto Briefing .

    Open source
  2. CB

    Coin Bureau@coinbureauPost on X 路

    馃毃NEW: Hyperliquid founder pushes for U.S. access under rules that regulate market operators and not the blockchain. Speaking to Bloomberg, Jeff Yan argued that firms operating markets on Hyperliquid should face regulatory obligations, potentially opening the network to Wall Street without treating it as a traditional exchange. He also confirmed that Americans using VPNs to access the platform violate its terms. Legal U.S. access remains dependent on regulatory clarity around how onchain trading fits CFTC requirements.

    Open source
  3. CN

    crypto.news@cryptodotnewsPost on X 路

    JUST IN: Hyperliquid founder Jeff Yan pushes for U.S. access under market operators' rules Yan, however, told Bloomberg that firms operating markets on Hyperliquid should face regulatory requirements, while warning that Americans using VPNs to access the platform violate its terms as the industry awaits clearer CFTC rules.

    Open source