MAS warns: Hyperliquid has been placed on the 'alert list' by Singapore's regulator.
On June 26, the Monetary Authority of Singapore (MAS) added the perpetual DEX Hyperliquid website to its Investor Alert List (IAL). The portal of the Hyper Foundation organization was also included in the same list.
It is important to understand: inclusion in the IAL is not a ban on activities or the start of enforcement measures. It is a signal to the market that this service may be mistakenly perceived as having a MAS license. The regulator warns investors: do not confuse the platform's availability with its regulated status.
The Hyperliquid team responded promptly. They emphasized that the IAL is a standard practice that already includes many major exchanges and DeFi protocols. "Hyperliquid is a publicly accessible infrastructure. It has never claimed to have a MAS license, and no one should consider it as such. Nothing has changed on the network," platform representatives stated.
Let me remind you that since the beginning of summer, centralized exchanges KuCoin and Bitget have also been added to this list. This is no coincidence: MAS is consistently tightening control. Back in June 2025, the regulator required all crypto companies to obtain a digital token service provider license, otherwise, they must stop serving foreign clients.
From an analyst's perspective, this step by MAS is part of a global trend: regulators are increasingly separating the "white" crypto market from the "gray" one. Hyperliquid, being a decentralized platform, deliberately does not fit into traditional licensing frameworks. However, users should consider: the absence of a license does not mean the absence of risks. In case of problems with the platform, protection from the Singapore regulator is not guaranteed to you.