$HYPE Hyperliquid founder Jeff Yan recently proposed a regulatory approach: he hopes the U.S. will focus regulation on the application layer—the financial institutions that deploy and operate markets on-chain—rather than directly regulating the underlying blockchain.
The core idea is that a blockchain is more like infrastructure, while the entities that deploy markets are the ones with real control and responsibility. This would allow traditional financial institutions to build compliant trading businesses on Hyperliquid while the blockchain itself remains relatively neutral.
The core idea is that a blockchain is more like infrastructure, while the entities that deploy markets are the ones with real control and responsibility. This would allow traditional financial institutions to build compliant trading businesses on Hyperliquid while the blockchain itself remains relatively neutral.