The post Hyperliquid Faces Regulatory Crackdown Push From ICE and CME Group appeared first on Coinpedia Fintech News
The Intercontinental Exchange (ICE) and the Chicago Mercantile Exchange Group (CME) are actively lobbying the US Congress and the Commodity Futures Trading Commission (CFTC) to impose typical financial institution regulations on the Hyperliquid decentralized exchange.
The two traditional exchanges now agree that Hyperliquid’s anonymous and unregulated trading environment poses systemic financial risks. The pair specifically targets the exchange’s 24/7 crude oil perpetual contracts launched under the HIP-3 upgrade.
Hyperliquid’s growth and regulatory stand
According to the cryptocurrency intelligence provider Kaiko, the cumulative trading volume of these contracts skyrocketed from $339 million in late February to over $7.3 billion on March 12.
Even more, the exchange now captures 34% – 44% of the decentralized derivatives market share, with $619 b
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