Hyperliquid Policy Center and trade[XYZ] Ask CFTC to Allow Energy Perpetuals in U.S.
DeFi & Yields ·
A comment letter to the Commodity Futures Trading Commission seeks a regulated path for crude oil and natural gas perpetual contracts, along with 24/7 trading and stablecoin margin.
The Hyperliquid Policy Center (HPC) and trade[XYZ], described as a third-party market deployer on Hyperliquid, filed the letter with the CFTC, according to wublockchain.xyz. The submission asks regulators to establish a regulated U.S. market access pathway specifically for crude oil and natural gas perpetual contracts, a product category that currently has no clear onshore framework.
Beyond the energy-contract request, the letter backs continuous, round-the-clock trading rather than sessions tied to traditional market hours. It also recommends that stablecoins and tokenized traditional assets be permitted as margin collateral, which would let market participants post digital dollar instruments or tokenized securities instead of only cash or conventional collateral.
A further recommendation calls for the CFTC to formally recognize on-chain infrastructure for trading, clearing, and settlement functions, effectively asking the agency to treat blockchain-based systems as viable substitutes for parts of the traditional derivatives-market plumbing. The proposal was also flagged separately as covering Hyperliquid and trade[XYZ] petitioning the CFTC on energy perpetuals, per x.com, indicating the filing circulated through more than one channel.
The letter arrives amid broader industry-wide debate over how U.S. derivatives regulators should treat crypto-native and tokenized-asset infrastructure, a theme also touched on by leviathan.news in its coverage of CFTC-related developments.
What remains unresolved is whether the CFTC will act on the recommendations, and on what timeline. The letter does not itself change any rule; it is a comment submitted for the commission's consideration, and no indication has been given of a formal rulemaking process, public comment period outcome, or decision date tied to this specific request.