Jake Chervinsky, CEO of the newly formed Hyperliquid Policy Center (HPC), has laid out a multi-year policy agenda aimed at reshaping the regulatory landscape for decentralized finance (DeFi) in the United States. In an interview, Chervinsky described HPC as an independent research and advocacy organization dedicated to promoting clear and constructive rules for DeFi, with a mission to work directly with regulators to craft frameworks that allow American participation while maintaining oversight.
The center's immediate priorities include expanding lawful US access to decentralized perpetual derivatives markets, an area currently restricted, and ensuring that open-source DeFi developers are not misclassified as traditional financial intermediaries. Chervinsky emphasized the importance of the CLARITY Act, advocating for explicit protections for builders of non-custodial software within the stalled congressional legislation.
Chervinsky outlined three key benchmarks for HPC's success: first, working with the Commodity Futures Trading Commission (CFTC) to create a pathway for US participants to legally trade commodity-based perpetual futures on decentralized platforms like Hyperliquid; second, pursuing a similar framework with the SEC for equity perpetuals; and third, securing passage of the CLARITY Act with strong DeFi developer protections.
This regulatory push coincides with technical analysis of Hyperliquid's native token, HYPE. According to market data, HYPE has been trading in a tight range between $30 and $35, with its price compressing below mid-$30s resistance as Bollinger Bands signal volatility contraction. Analysts note that a break above the upper band could validate momentum, while failure risks a reversion toward the basis line. At the time of reporting, HYPE traded around $30.44, reflecting a 5% daily loss in line with broader market retracement.
Chervinsky highlighted real-world market activity, such as a recent surge in Hyperliquid trading volume tied to governance proposal HIP-3 during a weekend when traditional markets were closed, as a practical demonstration of 24/7 decentralized infrastructure that resonates with policymakers.
