Hyperliquid Policy Committee Submits MiCA Feedback to the EU, Calling for a Technologically Neutral Approach to Improving the Regulatory Framework

Odaily News: The Hyperliquid Policy Committee has submitted feedback in response to the European Commission's targeted consultation on the evolution of the MiCA framework. This marks its first policy submission outside the United States. The committee called on the EU to make moderate calibrations based on the existing financial regulatory framework, adhere to the classification principles of technological neutrality and economic substance, and recommended incorporating onchain perpetual contracts into the MiFID II regulatory framework through existing ESMA guidance.

The Hyperliquid Policy Committee stated that onchain perpetual contracts are matched through public central limit order books and should not mechanically apply retail restrictions targeting traditional contracts for difference. At the same time, it said regulators should recognize the public and transparent verifiability of public chains, exempt regulated institutions from duplicative reporting burdens for publicly available onchain data, and ensure that EU investors can access global liquidity.