The post discusses potential regulatory integration between Hyperliquid (@HyperliquidX) and Kraken (via its parent company Payward), noting that Payward holds key CFTC licenses following recent acquisitions of NinjaTrader and Bitnomial. Testnet activity shows a "Kraken HIP-3 test DEX" exploring permissioned features like whitelisting and order controls using USDC margin and BTC perpetuals. This strategic positioning could allow compliant U.S. operations similar to existing stock perpetual integrations by TradeXYZ (@tradexyz).