Hyperliquid seeks to establish rules in the United States that can protect blockchain and place regulation at the application layer

According to Bloomberg, Jeff Yan, co-founder of Hyperliquid Labs, is seeking the United States to establish rules that can protect its blockchain.

He believes that the regulatory responsibilities of Hyperliquid should fall on the financial institutions operating in the market based on that blockchain, namely the application layer, rather than on the blockchain network itself. This regulatory division would allow Hyperliquid to enter Wall Street without having to bear the full compliance burden of traditional exchanges.