News about HYPEUSDT

Bitwise Asset Management and the Hyperliquid Policy Center are urging the US Securities and Exchange Commission (SEC) to revise its proposed crypto rules, seeking clearer guidance on how crypto assets are classified, how airdrops are treated, and how secondary-market trading works, as the public comment period closes. Bitwise wants a standard based on publicly available information to determine whether an asset falls under securities laws, along with clear rules on relying on issuers' Form TR filings. Hyperliquid asks the SEC to broaden its proposed safe harbor, protect airdrops that reward network participation, and clarify whether unregistered intermediaries or onchain protocols can facilitate token trading. In contrast, former SEC enforcement official John Reed Stark and scholar Lee Reiners urge withdrawing the proposal, arguing it exceeds the agency's statutory authority, weakens investor protections and could face immediate legal challenge. The SEC has not announced a timetable for a final decision.