"Every exchange will need to adopt public blockchain infrastructure to remain competitive." That's the line from Chervinsky, CEO of Hyperliquid Policy Center, quoted by The Block as his take on where on-chain trading markets are headed.
According to The Block, Chervinsky believes regulated perpetual futures (perps) are just the first step. He points out that on-chain markets will next need to formally fall under U.S. regulatory oversight, and that this process "will happen soon."
His comments frame the gap between on-chain exchanges and the current regulatory framework as a matter of timing, not whether it will happen at all. As for the specific timeline, which product categories would be involved, or which regulatory body would take charge, neither Chervinsky nor The Block's report provided further details.
