Singapore’s MAS puts Hyperliquid on its investor alert list

Singapore has built a reputation as one of the friendlier places on earth for digital assets. That friendliness, it turns out, has limits. The Monetary Authority of Singapore (MAS) has voiced serious concerns about decentralized crypto products. It is paying particular attention to highly leveraged perpetual futures platforms, and it has now named one of the biggest of them. On June 26, 2026, MAS added Hyperliquid to its Investor Alert List. The platform is operated by Hyperliquid Labs, which is registered in Singapore. What MAS actually flagged MAS uses its Investor Alert List to flag entities to the public. Hyperliquid landed there because of its decentralized structure, which the regulator considers to sit outside its oversight. The regulator also pointed out that Hyperliquid is not regulated in any major jurisdiction. Hyperliquid Labs has confirmed it is registered in Singapore. It has also stated that it is not licensed by MAS. Why perpetual futures are the pressure point Perpetual futures, or “perps,” are derivatives that let traders bet on an asset’s price without ever holding it. Unlike traditional futures, they have no expiry date, so positions can stay open indefinitely. ...