Decentralized exchange Hyperliquid has launched a new Washington based policy and research organization aimed at shaping how U.S. lawmakers regulate decentralized finance and blockchain based derivatives markets. The initiative, called the Hyperliquid Policy Center, enters an already active crypto policy landscape as Congress debates legislation that could define the regulatory future of DeFi platforms.
The new nonprofit will be led by crypto attorney Jake Chervinsky, who previously served as policy head at the Blockchain Association. In his new role as founder and chief executive, Chervinsky is expected to focus on regulatory frameworks for decentralized exchanges, perpetual futures products and blockchain based financial infrastructure. His appointment signals that the group intends to engage directly with lawmakers and regulators on technical and legal issues surrounding decentralized trading systems.
Hyperliquid operates a blockchain native exchange that enables users to trade perpetual futures without relying on a centralized intermediary. Instead of traditional brokers or clearinghouses, trades are executed and settled on chain. According to publicly available data, the platform processed more than 250 billion dollars in perpetual futures trading volume over the past month, alongside several billion dollars in spot transactions. That growth has positioned Hyperliquid as one of the most prominent decentralized derivatives venues in the market.
To fund the policy center, the Hyper Foundation has committed 1 million HYPE tokens, valued at approximately 29 million dollars at current market prices. The allocation places the initiative among the more heavily funded crypto advocacy efforts in Washington. The U.S. capital already hosts several digital asset focused organizations, including the DeFi Education Fund, the Solana Policy Institute, the Digital Chamber, the Blockchain Association and the Crypto Council for Innovation.
The timing of the launch is notable. Lawmakers and federal agencies are actively evaluating how decentralized exchanges and perpetual futures products should be treated under U.S. securities and commodities laws. Perpetual futures allow traders to hold leveraged positions without an expiration date and have become a core product across global crypto markets. However, their regulatory status in the United States remains uncertain, particularly when offered through decentralized protocols rather than centralized entities.
Chervinsky has argued that financial markets are increasingly migrating to public blockchains because of their efficiency, transparency and resilience. He has warned that if the United States does not adapt its regulatory approach to accommodate decentralized systems, innovation could shift to other jurisdictions with clearer frameworks.
The Hyperliquid Policy Center plans to publish research, provide technical briefings to policymakers and advocate for rules tailored specifically to decentralized market structures. As legislative negotiations continue in the Senate over broader crypto market structure reforms, the presence of another well funded DeFi focused advocacy group may influence how regulators balance investor protection, market integrity and technological innovation in the evolving digital asset sector.
