Hyperliquid Policy Committee Submits Feedback to the EU on MiCA Evolution

Techub News reported that the Hyperliquid Policy Committee (HPC) submitted feedback to the European Commission regarding the targeted consultation on the evolution of the MiCA framework. This marks its first policy submission outside the United States. HPC called on the EU to moderately calibrate based on the existing financial regulatory framework rather than overhauling it entirely. Its core propositions include: adhering to the classification principle of 'technological neutrality and economic substance,' recommending the explicit inclusion of on-chain perpetual contracts under MiFID II regulation through existing ESMA guidelines; emphasizing that perpetual contracts, based on public central limit order book matching, differ from traditional contracts for difference and should not mechanically apply the stringent retail restrictions targeting the latter; and advocating for regulatory recognition of the transparency of public chains to relieve regulated institutions from the redundant reporting burden of submitting already publicly on-chain data.