Crypto industry urges U.S. to formalise oil and gas perpetual futures, 24/7 trading

[DigitalToday reporter Yoonseo Lee (이윤서)] Hyperliquid Policy Center (HPC) and crypto products operator TradeXYZ called for regulatory changes to allow the introduction of perpetual futures for crude oil and natural gas in U.S. regulated markets.

On Aug. 27 (local time), blockchain outlet CoinPost reported that HPC and TradeXYZ submitted a joint comment letter to the U.S. Commodity Futures Trading Commission (CFTC) on Aug. 26. They asked the CFTC to create a framework that allows perpetual futures in the energy sector and 24-hour, seven-day trading.

Perpetual futures are derivatives that trade without expiry. The structure, which spread in crypto markets, is designed so prices track the underlying asset through funding fees. The key is to expand such products beyond digital assets to energy markets such as crude oil and natural gas, and bring them into the U.S. supervisory framework.

HPC and TradeXYZ cited a Middle East military conflict on Feb. 28 as an example. They said that while the existing crude oil futures market was closed over the weekend, Hyperliquid’s oil-linked perpetual futures continued trading. They said about two-thirds of price moves were reflected on-chain before the benchmark market reopened.