HPC CEO: BTC Perpetual Futures Allowed on CEXs but On-Chain Regulation Gap Remains

HPC CEO Jake Chervinsky has pointed out that while Bitcoin (BTC) perpetual futures are permitted on U.S.-based centralized exchanges, there remains no clear regulatory framework for such products on decentralized platforms like Hyperliquid.

Speaking in an interview with The Rollup on July 7, Chervinsky noted that the Commodity Futures Trading Commission (CFTC) approved Coinbase and Kraken to support BTC perpetual futures, but this approval is limited to centralized exchanges. He emphasized that it remains unclear what regulations apply to on-chain markets like Hyperliquid, where anyone can participate. 'The important thing is not just allowing perpetual futures on existing centralized exchanges but ensuring they are also permissible for U.S.-based operations on on-chain markets,' he said.