Hyperliquid launches DeFi policy group in Washington, DC

Virtual asset platform Hyperliquid has launched a DeFi policy lobbying organization aimed at the U.S. Congress.

According to Cointelegraph on the 18th (local time), Hyperliquid established the 'Hyperliquid Policy Center' in Washington, DC, and appointed Jake Chervinsky as founder and chief executive officer (CEO). Chervinsky previously served as chief legal officer at crypto venture fund Variant and as head of policy at the Blockchain Association.

The Policy Center said it will "support DeFi in the United States so it can grow under a clear and regulated pathway," adding that it will focus in particular on policies related to perpetual derivatives and blockchain-based financial infrastructure.

Hyperliquid is a Layer 1 blockchain and a perpetual futures trading platform. Amid a broader rise in market volatility recently, demand for products trading has increased, rapidly expanding its user base, and it is also seeking to expand into prediction markets. Hyper Foundation, an independent foundation backing Hyperliquid, plans to provide 1 million Hyperliquid (HYPE) tokens to fund the Policy Center’s launch.

CEO Chervinsky said, "Traditional financial firms are adopting blockchain-based products and services for efficiency, transparency, and resilience," adding, "This technology has the potential to underpin the global financial system." He continued, "The United States must choose whether to establish rules so innovation can grow domestically, or to watch other countries seize the opportunity."

Jeff Yan, Hyperliquid’s co-founder and CEO, also said, "This is a pivotal moment in U.S. policy discussions," adding, "There has been a lack of a unified voice in important policy debates." He said, "There is a tangible and urgent opportunity to upgrade the technology stack of the existing financial system," adding, "Global financial regulation will be shaped in the United States, and policies are needed that reflect the potential of a new financial system."

The U.S. Congress is currently discussing legislation to clarify oversight authority over the virtual asset market, but disagreements in the Senate over stablecoin-related provisions are continuing, delaying the legislative process. The establishment of the Policy Center is interpreted as a move to proactively convey the DeFi industry’s position in response to these regulatory shifts.