HPC and Phantom jointly submit a statement urging the CFTC to clarify the regulatory path for on-chain protocols

Foresight News reports that Hyperliquid Policy Center (HPC) and Phantom have jointly submitted a comment letter in response to the U.S. Commodity Futures Trading Commission (CFTC)’s request for clarification on future regulatory directions. Their proposal recommends taking the following three steps: confirming that separately publishing on-chain protocol software does not require registration; providing institutions registered with the Commission a clear pathway to operate regulated functions using on-chain infrastructure; and turning the recent no-action letter issued to Phantom into a formal rule.