Hyperliquid founder calls for US regulators to target on-chain financial institutions rather than blockchain itself.

According to Bloomberg, Hyperliquid founder Jeff Yan stated during an interview with the Bloomberg Odd Lots podcast that U.S. regulatory obligations for cryptocurrency trading platforms should fall on financial institutions operating markets on the Hyperliquid blockchain, rather than on the blockchain network itself. This strategy aims to facilitate the platform's expansion into Wall Street while sidestepping the comprehensive compliance burdens of traditional exchanges. Currently, U.S. regulators are discussing how to incorporate offshore cryptocurrency trading platforms into the domestic financial regulatory framework.