Hyperliquid Policy Center Pushes SEC on Token Buybacks

Hyperliquid Policy Center filed an October 19 comment letter asking the SEC to confirm that fixed, publicly disclosed token buyback or burn programs on functional networks are not promises of essential managerial efforts, even when a central party exists. The letter, signed by CEO Jake Chervinsky and senior counsel Brad Bourque, says discretionary buybacks by a central party may still count and seeks a narrower central-party definition. HPC, an independent advocacy group launched in February, made the request as one of five on the SEC’s proposed Regulation Crypto Assets, which would allow token offerings of up to $5 million over four years under a startup exemption and up to $75 million in any 12-month period under a fundraising exemption.