Comment on CFTC-2026-1321, CFTC-2026-1321-0001, Hyperliquid Policy Center and Phantom

Summary: Phantom Technologies, Inc. and Hyperliquid Policy Center advocate for regulatory changes that allow fintech firms to integrate onchain technology into federally regulated markets. They specifically request that onchain protocol developers be exempt from registration, that registrants be permitted to use onchain infrastructure for regulated functions, and that non-custodial front-end providers be granted codified relief from registration.