Hyperliquid CEO Jeff Yan lays out a US compliance plan that regulates operators, not the chain
Photo: Crypto Briefing
Yan argues US oversight should land on licensed firms running markets on Hyperliquid, not on the Layer-1 blockchain underneath them Hyperliquid wants into the US market. It just doesn’t want to be the one holding the license. In an October 15, 2026 appearance on Bloomberg’s Odd Lots podcast, Hyperliquid Labs CEO and co-founder Jeff Yan sketched a regulatory model in which US oversight targets the financial firms that run markets on Hyperliquid’s Layer-1 blockchain. Under his proposal, the blockchain itself would sit outside exchange-level rules. Yan’s core argument leaned on a comparison to the internet.
Source: Crypto Briefing
