Hyperliquid Policy Council (HPC) has submitted a comment letter to the U.S. SEC and CFTC, urging both agencies to establish a unified classification and regulatory framework for perpetual contracts. HPC believes that cash-settled stock perpetual contracts with characteristics of traditional futures can be classified as security futures. The fundamental classification of perpetual contracts should depend on the contract itself and the trading method, rather than being influenced by the underlying asset, whether it’s Bitcoin, crude oil, or stocks. HPC stated that clear regulatory classification would help bring perpetual contract trading into the U.S. market. They also revealed that over the past ten months, Hyperliquid's perpetual markets have achieved a cumulative trading volume exceeding $480 billion across oil, metals, forex, stock indices, and individual stocks. https://(wublock123.com)/news/hyperliquid-policy-council-calls-sec-cftc-unified-perpetuals-regulation-67106