727 FinancePANews October 18 news, according to Bloomberg, Hyperliquid Labs co-founder Jeff Yan is seeking U.S. rules that would protect its blockchain. He believes that Hyperliquid's regulatory responsibility should fall on the financial institutions operating markets based on the blockchain, that is, the application layer, rather than the blockchain network itself. This regulatory division would allow Hyperliquid to enter Wall Street without bearing the full compliance burden of traditional exchanges.
Jeff Yan also said that Hyperliquid is currently not open to U.S. customers. Hyperliquid would rather become the underlying trading technology used by traditional financial institutions than replace existing financial market participants, and positions itself by analogy with Amazon Web Services (AWS) providing computing infrastructure for enterprises.