HPC CEO says U.S. lacks clear rules for onchain BTC perpetual futures

HPC CEO Jake Chervinsky said BTC perpetual futures are allowed on U.S.-based centralized exchanges, but clear regulatory standards still do not exist for decentralized platforms such as Hyperliquid, according to Wu Blockchain. In an interview with The Rollup on Sept. 7, Chervinsky said the U.S. CFTC approved Coinbase and Kraken to offer BTC perpetual futures trading, but the move was limited to centralized exchanges. Chervinsky added it remains unclear which U.S. regulations apply to open onchain markets that anyone can access, such as Hyperliquid, and said the key issue is extending the ability to operate in the United States to onchain markets rather than limiting perpetual futures trading to existing centralized venues.