Jake Chervinsky, CEO of Hyperliquid Policy Center, says KYC and AML are unavoidable for on-chain finance in the U.S., with SEC and CFTC coordinating regulatory clarity.
Regulation & Gov ·
Jake Chervinsky, CEO of the Hyperliquid Policy Center, contends that compliant on-chain finance operating in the U.S. market cannot sidestep know-your-customer and anti-money-laundering regimes. In an interview with The Rollup on September 7, 2026, he outlined that emerging platforms will require technological solutions permitting on-chain intermediaries to satisfy oversight mandates from the SEC, CFTC, and U.S. Treasury.
The regulatory landscape is beginning to crystallize as the SEC and CFTC coordinate their respective frameworks. This collaborative effort is gradually establishing conditions under which on-chain trading venues could gain legitimate entry to American markets. However, the specific technical and operational standards that intermediaries must adopt to achieve that compliance remain under development.
Open questions include the timeline for finalized guidance, whether existing on-chain protocols can adapt to these requirements, and how international platforms will navigate the distinction between U.S. and non-U.S. users.