Hyperliquid Policy Committee Submits Feedback on MiCA Evolution to the EU

Techub News, @WuBlockchain tweeted that the Hyperliquid Policy Committee (HPC) has submitted formal feedback to the European Commission regarding the evolution of the Markets in Crypto-Assets (MiCA) regulation, marking its first regulatory document submission outside the United States. The Committee advocates that the EU should build upon the existing framework rather than creating a new system, arguing that tool classifications should follow economic substance over form, allowing perpetual futures to be regulated under MiFID II through existing ESMA guidelines without the need for new legislation.

The Committee emphasized that perpetual trading on a transparent central limit order book should not be subject to the stringent retail restrictions designed for bilateral contracts for difference (CFDs). Simultaneously, HPC calls on EU regulators to acknowledge the native verifiability of public blockchains to eliminate redundant reporting requirements for data already recorded on-chain, and to ensure that European investors have unrestricted access to global liquidity pools.