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ZEC $1,208 Hyperliquid Policy Center asks SEC for five crypto rule changes
The advocacy group backs the SEC's crypto framework but wants revisions on airdrops, post-distribution trading, safe harbours, buybacks and state rules.
Key takeaways
- Five changes requested. The group asked the SEC to revise its proposed framework in five areas.
- Comment filed October 19. The submission is one contribution to the SEC's rulemaking process.
- No decision yet. The group's submission is not a regulatory decision.
What happened
The Hyperliquid Policy Center has backed the US Securities and Exchange Commission's effort to clarify how securities law applies to crypto assets. In a comment published October 19, the group asked the regulator to revise its proposed Regulation Crypto Assets framework in five areas.
The group raised concerns about how administrative steps in token airdrops are handled and how tokens can trade after an exempt distribution. It also questioned whether a safe harbour gives clear enough protection once a project has matured.
The center also asked for clearer rules on token buybacks and a consistent approach to how federal exemptions interact with state securities requirements.
First $91.67Latest $79.84-12.9% over the period
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Why it matters
The proposals address a long-running problem for crypto developers. A network token may start inside a fundraising arrangement and later circulate among thousands of participants who trade and use it without dealing with the original issuer.
Drawing a line between those stages has been difficult under decades-old securities tests. The SEC proposal aims for more predictable treatment, but the consultation shows industry participants still disagree on where the boundaries should fall.
The submission is not a regulatory decision. It is one contribution to a rulemaking whose final outcome depends on how the commission responds to the evidence and objections it receives.
What is still unclear
- The reports do not say when the SEC will respond to the comment or whether it will adopt any of the five requested changes.
Questions readers ask
What is the Hyperliquid Policy Center asking the SEC to change?
It asked for revisions in five areas: token airdrop administration, trading after an exempt distribution, safe harbour protection for mature projects, token buybacks and the interaction between federal exemptions and state securities rules.
Did the SEC approve the Hyperliquid Policy Center's requests?
No. The submission is a comment in a rulemaking, not a regulatory decision, and the final outcome depends on the commission's response.
When was the comment filed?
The comment was published October 19, addressing the SEC's proposed Regulation Crypto Assets framework.
