Hyperliquid Urged EU to Classify Perpetual Futures
The group argued that crypto perpetual contracts should be treated as derivatives under existing MiFID II frameworks.
Updated on Oct. 1, 2026 in Finance — General
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Hyperliquid Policy Center submitted a position to the European Commission advocating for perpetual futures to be regulated as derivatives. The group seeks to avoid the creation of a new, separate regulatory category for these crypto-linked contracts.
Why it matters
The submission aims to prevent potential fragmentation in the regulatory environment and preserve access to global liquidity for market participants. By aligning with existing standards, the group hopes to ensure product features drive regulatory treatment instead of the underlying blockchain technology.
Hyperliquid has recorded $269 million in total borrowing since the launch of manual borrowing features. The platform utilizes HyperCore infrastructure to support portfolio margin and onchain trading functions.
The players
Hyperliquid Policy Center
This is an organization that advocates for regulatory standards related to the Hyperliquid trading platform and decentralized finance.
European Commission
This is the executive branch of the European Union responsible for proposing legislation and implementing decisions.
The details
The policy center argues that perpetual futures, which lack a fixed expiration date, should be governed by MiFID II requirements for record-keeping and information provision. The proposal highlights the platform's focus on functional transparency rather than the technical method of the blockchain.
Timeline
September 18, 2026: Manual borrowing was launched on the Hyperliquid platform.
October 1, 2026: The submission to the European Commission was published.
Market Dynamics
This policy push follows the broader implementation of the Markets in Crypto-Assets Regulation and aims to prevent market fragmentation. It reflects a growing effort by decentralized finance platforms to integrate with existing global financial frameworks.
Retail traders may see changes in how their perpetual contract positions are documented or accessed if regulators adopt these standards. The proposal is designed to maintain consistent market access while ensuring that trading firms adhere to established reporting requirements.
The takeaway
The proposal underscores the ongoing effort to reconcile decentralized technology with traditional regulatory requirements like MiFID II. Readers should monitor these developments as they may redefine the compliance obligations for international crypto-trading platforms.
Further reading
For broader trends in global financial oversight, visit the Finance — General section.
Source note: This article includes information reported by Coingape.
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