Hyperliquid says MAS alert list is not an enforcement action after Singapore warning

Hyperliquid has responded after the Monetary Authority of Singapore [MAS] added the decentralized trading protocol to its Investor Alert List [IAL]. It says the listing does not constitute an enforcement action or indicate any regulatory wrongdoing.

In a statement published on June 26, Hyperliquid said the IAL is intended to identify entities that may be wrongly perceived as being licensed or regulated by MAS. It added that many centralized exchanges and decentralized finance protocols have appeared on the list.

The response came shortly after MAS announced Hyperliquid’s inclusion on the Investor Alert List. The list warns consumers about entities that may have been perceived as providing regulated financial services without authorization.

Bybit was placed on a similar list earlier in the month.

Hyperliquid says it never claimed MAS authorization

Hyperliquid said it is a permissionless infrastructure and has never claimed to be licensed or authorized by MAS.

The protocol stressed that nothing about its network has changed following the listing. It added that users continue to maintain self-custody of their assets while transactions settle transparently on-chain.

Also, it said the ecosystem remains committed to engaging constructively with regulators and institutions globally. It voiced support for clear regulatory frameworks for on-chain finance.

MAS uses alert list to inform investors

MAS maintains the Investor Alert List to highlight entities that, based on information available to the regulator, may have been mistaken by consumers as being licensed or otherwise regulated in Singapore.

Inclusion on the list is not, by itself, a ban, an enforcement action, or a finding of misconduct.

The regulator periodically updates the list as part of its efforts to help investors distinguish between regulated entities and those that are not authorized under Singapore’s financial services framework.

Final Summary

• Hyperliquid says its inclusion on Singapore’s Investor Alert List does not represent an enforcement action. Also that it has never claimed MAS authorization.
• MAS says the list is intended to help consumers identify entities that may be mistakenly perceived as being regulated in Singapore.