Update
Hyperliquid Demands Five Fixes to SEC Crypto Proposal
The Hyperliquid Policy Center has submitted a comment to the U.S. Securities and Exchange Commission (SEC) regarding the draft of the new Regulation Crypto Assets. The organization supports the regulator's general initiative but demands five fundamental changes to the proposed draft. These changes include clarifying that a free distribution of tokens for on-chain activity is not an investment contract, and that completing verification or connecting a wallet to receive an airdrop cannot be legally interpreted as 'payment' for the asset. The policy center also demands that companies be given the right to declare that their tokens have never been securities and that decentralized protocols (DEX) be described in the proposed rules.