Hyperliquid fires back at ICE and CME: onchain perps are more transparent, not less regulated!

The Hyperliquid Policy Center has pushed back against a reported lobbying effort by Intercontinental Exchange and CME Group to bring the onchain derivatives platform under CFTC oversight. In a formal statement, the organization argued that Hyperliquid's fully transparent, onchain architecture already provides regulators and law enforcement with stronger surveillance capabilities than traditional venues.

"Hyperliquid's transparency serves as a strong deterrent for misconduct and facilitates surveillance, detection, and investigation by regulators and law enforcement," the Policy Center said. The argument reframes the regulatory debate: rather than being a gap in oversight, onchain perps may offer a more auditable market structure than legacy exchanges.

Bloomberg reported earlier Friday that ICE and CME are pressing U.S. regulators to rein in Hyperliquid, which has drawn attention for…