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Hyperliquid's Jeff Yan says HIP-3 partners should handle US KYC

NewsFeeds update

Hyperliquid co-founder Jeff Yan met policymakers in Washington and said entry to the US market should come through HIP-3 partners taking on KYC and market supervision rather than Hyperliquid itself. Hyperliquid began testing a revised HIP-3 framework with identity verification in September, and Payward, Kraken's parent, said the same month it planned to offer Hyperliquid perpetuals to US users through it.

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The story so far: Hyperliquid Strategies FCM registration

Hyperliquid Strategies said a subsidiary has applied to the CFTC to register as a futures commission merchant, which would let it serve US clients on permissioned HIP-3 markets. The firm, holding about $3.5bn in HYPE, says its quarterly deployment and the FCM application are 'the same bet'.

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  1. Hyperliquid's Jeff Yan says HIP-3 partners should handle US KYC

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