Code & Chain · Signal Desk

Phantom and Hyperliquid push CFTC to update on-chain derivatives rules

2026-07-10CryptoRegulationLast updated: 10 Jul 2026, 9:30 am
Original sourceCryptobriefing

Summary

Phantom and Hyperliquid's policy arm jointly petitioned the CFTC to modernize rules, arguing that non-custodial wallets and the mere deployment of smart contracts should not trigger exchange or broker registration. Proposals include confirming that contract deployment alone does not trigger registr…

Key points

  • Offers a clear compliance path for on-chain derivatives infrastructure, reducing legal risks for developers and wallet providers.
  • If passed, the proposal would significantly lower regulatory barriers for on-chain derivatives protocols operating in the U.S.
  • It would benefit wallets like Phantom that are integrating derivatives features and enable U.S.-registered firms to conduct settlement and margin management on-chain.
CryptoRegulation

Editorial note

This page is Code & Chain's editorial summary of public sources. It may be prepared with AI assistance and published through an automated workflow. Refer to the original sources; this content is not investment, legal, or tax advice.