Hyperliquid Policy Center urges SEC, CFTC to harmonize rules for perpetual contracts — 2026-08-24

## Short Segments Stand With Crypto is making waves in the political arena by endorsing 32 House candidates ahead of the midterm elections. This move signals a strategic push to influence digital asset policy in Washington. Stand With Crypto, a prominent advocacy group, is backing candidates from both parties, aiming to shape the legislative landscape for digital assets. The organization has also launched a refreshed Voter Hub, allowing voters to easily access candidates' stances on crypto issues. With Senate endorsements expected closer to Election Day, Stand With Crypto is positioning itself as a key player in the upcoming elections. This development highlights the growing intersection of cryptocurrency and politics, as advocacy groups seek to ensure favorable policies for the digital asset industry. As the midterms approach, the influence of crypto advocacy in shaping policy could have significant implications for the future of digital assets in the U.S. ## Feature Story The Hyperliquid Policy Center is urging the SEC and CFTC to harmonize rules for perpetual contracts, a move that could reshape the regulatory landscape for crypto derivatives. As Hyperliquid's multi-asset perpetuals gain traction, the call for a unified framework comes at a critical time. The advocacy group, led by CEO Jake Chervinsky, filed its comment on the last day of the agencies' joint public comment window, emphasizing the need for a consistent taxonomy across both regulators. This proposal aims to resolve jurisdictional disputes over novel derivatives and potentially bring offshore perpetuals trading volume to the U.S. Currently, the lack of a shared framework has led to regulatory uncertainty, hindering the growth of onshore perpetuals markets. Hyperliquid's recommendations include recognizing qualifying equity perpetual contracts as security futures, which would place them under a more defined regulatory category. The proposal also critiques the legacy market structure as incompatible with onchain infrastructure, highlighting the need for regulatory adaptation to new technologies. By advocating for harmonized rules, Hyperliquid seeks to create a more predictable environment for market participants and foster innovation within the U.S. financial system. The SEC and CFTC's response to this proposal could have far-reaching implications for the crypto derivatives market, potentially setting a precedent for future regulatory approaches. As the agencies work to reduce regulatory gaps and provide greater certainty, the outcome of this initiative will be closely watched by industry stakeholders. For issuers, custodians, and developers, a harmonized framework could mean clearer guidelines and reduced compliance burdens, enabling more robust participation in the U.S. market. For regulators, it represents an opportunity to assert jurisdictional clarity and enhance oversight of a rapidly evolving sector. Looking ahead, the key question remains whether the SEC and CFTC will align their approaches to perpetual contracts, paving the way for a more integrated and competitive U.S. crypto market. As the dialogue between regulators and industry continues, the potential for regulatory harmonization could mark a significant turning point for the future of crypto derivatives in the United States.