DeFi Pushes for Purpose-Built Rules
As derivatives and spot trading migrate on-chain, protocol operators keep pressing regulators to write rules for code-based execution rather than force decentralized venues into intermediary frameworks.
forming · confidence 40 · Emerging (watchlist) · tracking since July 10, 2026 · updated July 10, 2026
Why the conviction moved
- Jul 10Strengthened +4
The Hyperliquid Policy Center and Phantom filed jointly with a US regulator arguing rules built for traditional intermediaries do not map onto decentralized on-chain trading. Named protocol operators pressing for code-specific rules is the exact recurring dynamic the thesis tracks.
Source trail
Supporting · July 10, 2026
Hyperliquid Policy Center and Phantom Ask US Regulator to Write DeFi-Specific Rules
The Hyperliquid Policy Center and Phantom filed jointly with a US regulator arguing rules built for traditional intermediaries do not map onto decentralized on-chain trading. Named protocol operators pressing for code-specific rules is the exact recurring dynamic the thesis tracks.
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