Hyperliquid Is Building a Shadow Stock Exchange. The SEC Might Soon Make It Legal.

Hyperliquid (CRYPTO: HYPE), a decentralized crypto exchange that operates 24/7, clears its own trades, and doesn't require a brokerage account, certainly sounds like the kind of thing the Securities and Exchange Commission (SEC) would try to shut down for running a shadow stock exchange.Instead, the agency is reportedly preparing to give platforms like it a formal path to operate. The SEC's forthcoming "innovation exemption" for tokenized stock trading -- the blockchain-based trading of crypto tokens representing stock shares -- could be one of the most important regulatory changes in crypto's history.For holders of Hyperliquid, this could be a catalyst unlike any other. The platform already hosts tokenized U.S. stocks, and it's the market leader in a type of financial derivative called perpetual futures contracts (or perps for short). Here's why the SEC's approach could widen Hyperliquid's lead, and how it might backfire.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool