Justin Sun Says U.S. Rules Could Shape CEX Shift to DEXs

How U.S. regulators define Hyperliquid’s operating boundaries could influence whether centralized crypto exchanges adopt decentralized models as competition in U.S. stock perpetual contracts grows, TRON founder Justin Sun said. Sun described Hyperliquid as one of the cycle’s biggest new discoveries and said its stock perpetual contracts opened new possibilities for the industry. More projects are entering that market, increasing competition for the platform, he said. If Hyperliquid receives a regulatory exemption similar to Uniswap’s, many centralized exchanges could adopt decentralized models, Sun said. Tighter oversight, he added, could put Hyperliquid under significant pressure. Sun also said Hyperliquid’s regulatory work and U.S. operations are less mature than those of Circle and other onshore-compliant firms. Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost.

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