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Hyperliquid Policy Center and TradeXYZ urge CFTC to regulate oil perps
The groups said Middle East supply shocks tied to U.S. and Israel strikes on Iran left traditional oil futures closed, while 24/7 platforms kept trading onchain.
Hyperliquid Policy Center and TradeXYZ urged the U.S. Commodity Futures Trading Commission to create a regulatory path for energy perpetual contracts, arguing the products should be brought into the United States under a clearer framework, according to The Block.
In a letter, the groups pointed to disruptions in global supply chains in the Middle East earlier this year after the United States and Israel conducted missile strikes on Iran, which they said triggered supply shocks. They also asked that the approach be technology neutral and that the CFTC clarify what constitutes a business day for timing requirements.
The Block reported that they said crises occurring over weekends can delay American firms from managing risk because traditional oil futures markets close, while platforms like Hyperliquid operate 24/7 and trading can continue onchain.
The Block added that perpetuals, or perps, are futures-style contracts without an expiration date, and much of the activity is currently on offshore exchanges that are not regulated in the U.S. The story also noted Hyperliquid drew attention at the White House after President Donald Trump said CFTC Chair Michael Selig was working to bring the platform into the U.S. in a fully compliant and legal fashion.