Hyperliquid Takes Onchain Derivatives Case to Washington as CLARITY Act Talks Intensify

Hyperliquid has stepped up its push in Washington as lawmakers debate how to regulate onchain derivatives. Co-founder Jeff Yan recently met with U.S. policymakers to argue that blockchain-based derivatives markets should be incorporated into the country's emerging regulatory framework, with discussions largely focused on the CLARITY Act. According to people familiar with the meetings, conversations zeroed in on the technical realities of how onchain trading functions, positioning the outreach as a policy education effort for legislators. The company also recently expanded its policy footprint in the capital. Hyperliquid launched the Hyperliquid Policy Center in Washington on February 18, led by Jake Chervinsky, who previously served as chief policy officer at the Blockchain Association. The group is intended to do more than hold congressional meetings, aiming to act as a conduit between DeFi trading markets and the traditional regulatory system. The CLARITY Act has emerged as the centerpiece of these exchanges. Hyperliquid's team believes there is an active window for integrating onchain derivatives into the U.S. regulatory structure. A key part of the Policy Center's work will be responding to criticism from established derivatives venues. Incumbents such as CME and ICE have raised concerns about risks posed by unregulated crypto trading platforms. Hyperliquid argues that onchain markets can deliver stronger transparency than traditional counterparts, since every trade, order, and liquidation on a blockchain-based system is publicly verifiable.