The SEC's proposed crypto rulebook got its most detailed comment letter — one day before comments close.
Hyperliquid's Policy Center filed its response to the SEC's Regulation Crypto Assets framework on October 19, with the public comment window shutting October 20. The group supports the framework but wants five fixes: airdrops shouldn't be treated as securities sales just because someone connected a wallet; clearer rules for secondary trading of exempt tokens; safe-harbor protection for developers that doesn't imply they admitted past violations; a distinction between automated protocol buybacks and team-directed ones; and clarity on state-level requirements.
The framework itself, proposed in August, would create new exemptions letting qualifying projects raise up to $5 million over four years, or $75 million in a 12-month window.
The honest part: this is a comment letter, not a rule. The SEC can ignore all of it. But the window closes tomorrow — so whatever the final rules look like, this is what onchain builders wanted written into them.
Will the SEC actually listen this time? NFA. DYOR.
$HYPE #Crypto #Regulation
Hyperliquid's Policy Center filed its response to the SEC's Regulation Crypto Assets framework on October 19, with the public comment window shutting October 20. The group supports the framework but wants five fixes: airdrops shouldn't be treated as securities sales just because someone connected a wallet; clearer rules for secondary trading of exempt tokens; safe-harbor protection for developers that doesn't imply they admitted past violations; a distinction between automated protocol buybacks and team-directed ones; and clarity on state-level requirements.
The framework itself, proposed in August, would create new exemptions letting qualifying projects raise up to $5 million over four years, or $75 million in a 12-month window.
The honest part: this is a comment letter, not a rule. The SEC can ignore all of it. But the window closes tomorrow — so whatever the final rules look like, this is what onchain builders wanted written into them.
Will the SEC actually listen this time? NFA. DYOR.
$HYPE #Crypto #Regulation