Hyperliquid Policy Center Pushes SEC for 5 Major Changes to Proposed Crypto Rules

The Hyperliquid Policy Center has submitted a comment letter supporting the U.S. Securities and Exchange Commission’s proposed Regulation Crypto Assets but asking the agency to make five changes before finalizing it. The proposal, issued five months after a March SEC interpretation on token distributions including airdrops, would permit token offerings of up to $5 million over four years under a startup exemption and up to $75 million in a 12-month period under a separate fundraising exemption, and would create a safe harbor for when a token is no longer tied to an investment contract. HPC’s requested changes concern airdrop recipients, secondary trading and intermediaries, safe-harbor certification, buybacks, and federal preemption after projects qualify for the safe harbor.