Phantom and Hyperliquid Ask CFTC for Registration Carve-Out on Onchain Derivatives

The two firms want legacy developer registration rules updated to fit permissionless blockchain market infrastructure.

Phantom Technologies and the Hyperliquid Policy Center have asked the Commodity Futures Trading Commission to exempt blockchain developers from registration requirements designed for traditional intermediaries. The July 9 request targets rules that treat code deployment and protocol maintenance as activities requiring broker or exchange licenses.

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