Hyperliquid opens D.C. policy center as U.S. eyes perps

Hyperliquid launches D.C. Policy Center to integrate DeFi into U.S. markets

Hyperliquid has launched a Washington, D.C.-based policy group focused on decentralized finance rules and integrating DeFi into U.S. markets, as reported by CoinDesk. The move brings the exchange directly into the U.S. policy arena.

The Hyperliquid Policy Center is led by prominent crypto lawyer Jake Chervinsky, according to Stocktwits. The organization is structured to operate in the nation’s capital and engage with policymakers on DeFi market structure.

Its early remit includes derivatives and market-policy topics, with the nonprofit explicitly targeting clarity for perpetual derivatives through research and outreach, as reported by CoinGape. That scope places perps and related mechanisms at the center of the Center’s agenda.

Institutional interest has also surfaced around the ecosystem: Lion Group Holding reallocated part of its treasury from Solana and Sui into HYPE after a U.S. institutional custody milestone, according to PR Newswire. The firm cited Hyperliquid’s on-chain order book and infrastructure as key reasons.

Early goal: define U.S. rules for decentralized perpetual derivatives

A near-term objective is to define how decentralized perpetual derivatives could fit within U.S. rules, as reported by CoinGape. Establishing policy guardrails for perps could influence market access, disclosures, and risk controls for U.S. participants.

Fortune has described the initiative as an effort to help Congress and federal agencies understand DeFi’s mechanics and regulatory gaps. “We’re in a moment where the U.S. faces a large challenge to rewrite the rules for the new chapter of DeFi,” said Jake Chervinsky, CEO of the Hyperliquid Policy Center. The report notes that perps remain widely traded offshore with limited U.S. recognition, and that the Center intends to support rulemaking and guidance discussions.

Skeptics have questioned Hyperliquid’s decentralization, with Multicoin Capital’s Kyle Samani citing issues such as closed-source code and permissioned validators, as reported by CCN. Supporters counter that tokenomics and governance choices address many of these concerns.

At the time of this writing, market data show dYdX (DYDX) at $0.1074 with Bearish sentiment, 20.85% volatility, an RSI(14) near 34.83, and 12 green days out of 30. These figures provide context on broader DeFi-derivatives conditions without implying any investment view.

Led by Jake Chervinsky, focusing on policy research and engagement

Chervinsky’s leadership signals a focus on policy research and sustained engagement with U.S. authorities, including derivatives regulators such as the Commodity Futures Trading Commission. The work is expected to emphasize explainers on on-chain market design and the risks unique to automated liquidations and continuous markets.

From a process standpoint, U.S. integration of DeFi perps could proceed through hearings, agency rulemakings, staff guidance or no-action relief, and formal comment periods. Outcomes remain uncertain and will depend on interagency coordination and congressional priorities.

Further institutional activity underscores the policy relevance: Hyperion DeFi launched institutional-grade yield-vault strategies on Hyperliquid, signaling growing interest from professional market participants, as reported by Investing.com. Any expansion of U.S. access, however, will ultimately hinge on how regulators interpret and apply perpetual derivatives regulation.