Hyperliquid, a decentralized permanent exchange operated through its own layer 1 blockchain, has submitted formal comments on derivatives transactions to the U.S. Commodity Futures Trading Commission (CFTC).
On May 23 x postalHyperliquid Labs announced that “two comment letters have been submitted to (CFTC) in response to its recent comments on permanent derivatives and 24/7 transactions.” The team behind the Decentralized Exchange (DEX) added:
“We commend the CFTC for its active participation in these topics, and understanding these topics is the basis for global market development.”
Hyperliquid said it is committed to the development of the Decentralized Financing (DEFI) space. The team also claimed that its implementation “embodies how to implement core bias principles to improve market efficiency, market integrity and user protection.”
Related: CFTC Exodus: Fourth Commissioner leaves ‘later’ this year’
CFTC’s 24/7 derivatives plan
Hyperliquid’s speech follows CFTC specialist Summer Mersinger recently said cryptocurrency permanent futures contracts It can be approved by regulators in the United States “soon. “She said that permanent crypto futures “can be listed now.”
“We are seeing some apps and I’m sure we’ll see some of these product deals that will survive soon,” Messinger said, adding, “It’s great to be onshore trade in the U.S..”
Permanent futures contract is a derivative product that allows traders to guess at the price of not owning crypto assets, similar to traditional futures but without an expiration date. Such contracts remain open indefinitely and use a financing rate mechanism to remain consistent with spot market prices, in which payment times are regularly exchanged between long positions and short positions.
Related: CFTC specialist to resign as CEO of Blockchain Association
Crypto derivatives are a busy area
The crypto derivatives market has been announcing product releases, acquisitions and regulatory developments recently. Coinbase CEO Brian Armstrong said recently Will continue to look for mergers and acquisitions After obtaining the crypto derivatives platform deribit.
Armstrong’s remarks follow Coinbase’s protocol Get deribitone of the largest crypto derivatives trading platforms in the world. Europe sees as much in the crypto derivatives industry as in the Americas.
Gemini, the major crypto exchange, has also recently received regulatory approval Expand crypto derivatives trading across Europe. Elsewhere, Defi Platform Synthetix Will further venture into crypto derivativeswith plans to regain the cryptocurrency option platform.
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