Phantom and Hyperliquid Propose New Crypto Regulation Model to CFTC
A regulatory reform proposal for crypto infrastructure has been presented in the U.S.
1New Approach for Crypto Infrastructure
Phantom Wallet and Hyperliquid Policy Center submitted a reform proposal to the CFTC suggesting the separation of blockchain infrastructure developers and financial service providers. This proposal aims to accelerate the development of the crypto industry in the U.S. and attract innovative projects back from overseas.
2Technology-Finance Distinction
The proposal highlights that building technology infrastructure is different from providing financial services, using internet providers as an example. It notes that blockchain developers provide tools for users to manage their assets but do not act as financial intermediaries.
3Three Key Reform Proposals
1) Protocol development should not require registration, 2) Clarification of blockchain usage rules for exchanges, 3) Expansion of Phantom's 'no-action' decision. These proposals aim to adapt to crypto markets, which differ from traditional financial models.
4U.S. Crypto Strategy
The reform proposal is part of the U.S. efforts to integrate digital assets into the financial system. The Federal Reserve's discussion on crypto payment accounts and the SEC's digital asset strategy signal significant changes in the sector. However, the fate of the CLARITY Act remains uncertain.
5Industry Reactions and Expectations
The crypto community emphasizes the critical importance of separating infrastructure from services. The CFTC's new approach, focusing on individuals rather than companies during the Trump era, indicates a changing regulatory climate. The industry awaits clear rules through the CLARITY Act.
6A Turning Point for the Crypto Ecosystem
This reform proposal aims to provide regulatory clarity while preserving the core principles of decentralized finance. If successful, the U.S. could reclaim leadership in crypto innovation and set global standards. A critical step for the future of the industry.
Original article: INCRYPTED — Phantom ve Hyperliquid'den CFTC'ye Yeni Kripto Düzenleme Modeli