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Ad Home / Crypto News / Hyperliquid Policy Center Urges EU to Regulate Perpetual Futures as Derivatives Hyperliquid Policy Center Urges EU to Regulate Perpetual Futures as Derivatives 01 Oct, 2026 By Coingapestaff Coingapestaff
Copied! Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Highlights
Hyperliquid Policy Center has urged European regulators to keep perpetual futures under existing derivatives rules. The group wants product features, rather than blockchain technology, to determine their regulatory treatment
Hyperliquid Policy Center submitted its position during the European Commission’s review of the Markets in Crypto-Assets Regulation. HPC argued that financial instruments on public blockchains should not be excluded from MiFID II
The group stated that the use of blockchain should not be the sole criterion for triggering MiCA for a financial product. Existing European Securities and Markets Authority guidelines already consider economic features when classifying financial instruments
HPC applied the same argument to perpetual futures, which have no fixed expiration date. The group has stated these contracts have key characteristics with other derivatives regulated under MiFID II
HPC is seeking confirmation of this treatment via existing ESMA guidelines. This would prevent the establishment of a new separate regulatory category for crypto-linked perpetual contracts, the group said
HPC also requested the regulators to consider public blockchain records to fulfil existing transparency requirements. Trades, funding payments, orders and liquidations are recorded on the public networks for independent verification
MiFID II requires firms to maintain records and provide information about trading activity. HPC stated that regulators might consider using verifiable onchain information when considering compliance with those requirements
The group also desires that the rules should accurately reflect the actual role of each participant and the risks involved. HPC suggested that rates of funding, margin rules, reference prices and position closing rules should be disclosed
HPC argued that perpetual futures are not contracts for difference, or CFDs. Perpetuals are usually traded on order books, while CFD providers can deal directly with customers as counterparties
The policy submission coincides with Hyperliquid growing its trading infrastructure. Manual borrowing went live on September 18, enabling users to borrow USDC and USDT using supported collateral
Total borrowing has since reached $269 million. The feature uses the same HyperCore infrastructure that supports Hyperliquid’s portfolio margin system and other onchain trading functions
Hyperliquid has also added HIP-3 functionality for permissioned markets. Deployment teams can manage onchain allowlists, which deployers or designated sub-deployers can use to control access to the market
HPC also asked European regulators to preserve access to global liquidity. Its submission called for existing financial rules to govern regulated products regardless of the blockchain used
For more options in self-custodial markets, traders can compare top-tier venues in our guide to the best crypto futures trading platforms
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information
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