The SEC’s Crypto Task Force held a direct meeting with representatives from the Hyperliquid Policy Center, trade.xyz (XYZ Ltd.), and Sullivan & Cromwell LLP to discuss regulatory approaches for crypto assets and decentralized perpetual markets.

According to the official meeting memorandum issued by the Task Force, participants reviewed the Hyperliquid protocol’s technology and market infrastructure. The session was requested in a formal letter signed by Sullivan & Cromwell partner Natasha Vasan on behalf of the group.

Hyperliquid Execs Meet SEC Regulators for Clear Onchain Trading Rules

According to the official meeting memorandum issued by the Task Force, participants reviewed the Hyperliquid protocol’s technology and market infrastructure.

The session was requested in a formal letter signed by Sullivan & Cromwell partner Natasha Vasan on behalf of the group.

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Key attendees included Hyperliquid Policy Center CEO Jake Chervinsky, Hyperliquid founder Jeff Yan, and product lead Collins Belton from XYZ Ltd., the primary HIP-3 deployer powering 24/7 perpetual contracts on the platform.

This comes only days after the Hyperliquid Policy Center, together with non-custodial wallet Phantom, submitted a detailed joint comment to the CFTC urging the agency to exempt onchain software developers and self-custodial wallets from legacy intermediary registration rules.

That July 9 filing responded to the CFTC’s June 18 Request for Information on modernizing derivatives regulation, creating a rapid one-two punch of high-level engagement with both major U.S. regulators in the same week.

The Hyperliquid Policy Center launched in February 2026 as an independent 501(c)(4) organization focused on building a compliant path for Americans to access onchain derivatives. Today’s meeting marks one of its most visible engagements with the SEC since inception.

This comes as Hyperliquid has established itself as a major force in decentralized perpetuals trading. The talks reflect growing regulator interest in understanding high-performance onchain markets that operate continuously, including weekends.

HYPE responded positively to the news, trading near $65 with intraday gains as investors priced in potential regulatory tailwinds for the ecosystem.

With the Crypto Task Force actively soliciting industry input, this meeting could influence future guidance on decentralized trading infrastructure. Further public comments or follow-up sessions are expected in the coming months as regulators work toward practical frameworks.

The discussion reflects a maturing phase in U.S. crypto policy, one where leading builders are moving from offshore innovation to direct dialogue with Washington.

Source: BeInCrypto