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

HPC wants clearer SEC rules for crypto airdrops, secondary trading, token buybacks, safe harbor eligibility, and "durable" federal protections for projects. The Hyperliquid Policy Center (HPC) has urged the US Securities and Exchange Commission to make five changes to its proposed Regulation Crypto Assets. The policy group supports the proposal but said some parts need more clarity before the rules are finalized. Its main goal is to make it easier for crypto projects to operate in the United States without facing unnecessary legal uncertainty. For years, crypto developers have struggled to understand when their tokens fall under US securities laws. The SEC has taken steps to address these concerns in 2026. In March, the agency issued an interpretation covering how securities laws apply to several types of token distributions, including airdrops. Five months later, it proposed Regulation Crypto Assets. The proposal would allow token offerings of up to $5 million over four years under a startup exemption. A separate fundraising exemption would allow up to $75 million in a 12-month period. It would also introduce a safe harbor to clarify when a token is no longer tied to an investment...