#๐๐#Hyperliquid $HYPE First European incursion for Hyperliquid. The Hyperliquid Policy Center (HPC) has submitted its response to the Brussels consultation on the revision of MiCA. This policy arm of the leader of decentralized perpetuals exchanges thus signs its first regulatory file outside the United States.
Its request is succinct. HPC is banking on the existing texts and on the ESMA guidelines (the European Securities and Markets Authority). So there is no question of writing a new, bespoke regime for crypto derivatives.
Key points
The Hyperliquid Policy Center has signed its first regulatory response outside the United States.
Perpetual contracts would remain governed by existing financial regulations, with no new law.
There is no question of applying the CFD rules to them and their capped leverage of 2:1.
It calls for an end to duplicate reporting of on-chain data and for access to international order books.
ESMA, on the contrary, is calling for a tightening of DeFi and non-EU platforms.
Hyperliquid asks Brussels not to rewrite MiCA
Fully applicable since December 30, 2024, MiCA intentionally leaves derivative products out of its scope. Yet perpetual contracts (futures contracts with no expiry date) are at the heart of Hyperliquidโs business. They therefore fall under MiFID II, the European directive on markets in financial instruments.
Its request is succinct. HPC is banking on the existing texts and on the ESMA guidelines (the European Securities and Markets Authority). So there is no question of writing a new, bespoke regime for crypto derivatives.
Key points
The Hyperliquid Policy Center has signed its first regulatory response outside the United States.
Perpetual contracts would remain governed by existing financial regulations, with no new law.
There is no question of applying the CFD rules to them and their capped leverage of 2:1.
It calls for an end to duplicate reporting of on-chain data and for access to international order books.
ESMA, on the contrary, is calling for a tightening of DeFi and non-EU platforms.
Hyperliquid asks Brussels not to rewrite MiCA
Fully applicable since December 30, 2024, MiCA intentionally leaves derivative products out of its scope. Yet perpetual contracts (futures contracts with no expiry date) are at the heart of Hyperliquidโs business. They therefore fall under MiFID II, the European directive on markets in financial instruments.
