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Hyperliquid Policy Center, Phantom urge CFTC to update rules for onchain trading
As reported by The Block, Hyperliquid Policy Center and Phantom on Thursday ask the Commodity Futures Trading Commission to revise rules they say were built for centralized financial intermediaries rather than decentralized finance. In a joint comment letter, the groups argue that software supporting onchain trading, including systems like Hyperliquid, should not by itself trigger registration as an exchange or clearinghouse. They also say non-custodial front-end providers such as Phantom do not need to register as introducing brokers because code does not have legal personality, cannot enter contracts and cannot ... (full story)
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From fool.com | 5 hr ago
The Digital Asset Market Clarity Act (Clarity Act) continues to draw its fair share of skeptics as it moves through the arduous process of becoming law. One of the most vocal critics is Jamie Dimon, CEO of JPMorgan Chase, who has argued that some of the legislation's stablecoin rules could "blow up" the system. So what is it about stablecoins that the ...
