Phantom pulls on-chain perps into the US wallet war ahead of July 9 deadline
The post Phantom pulls on-chain perps into the US wallet war ahead of July 9 deadline appeared on BitcoinEthereumNews.com. On July 9, Phantom and the Hyperliquid Policy Center urged the CFTC to remove rules they say “unduly impede” fintech firms from working with registered derivatives markets. Phantom presents itself as the software in the middle, rather than the custodian. Users retain control of their funds and private keys, while trades are executed directly between them and registered venues. Phantom already offers Hyperliquid through its interface, though US users still cannot access it. American traders still need a regulated path to reach on-chain perpetual futures through a wallet, and this filing is Phantom’s attempt to build one. A flowchart shows a user’s wallet routing order instructions through a software-only interface to registered venues, brokers, and clearinghouses. Three specific requests The letter asks the CFTC for three things: protocol developers should avoid tri