Crypto news

On June 26, the Monetary Authority of Singapore (MAS) added the Hyperliquid platform, as well as the website of its affiliated organization Hyper Foundation, to its Investor Alert List. This list includes services that may be mistakenly perceived by users as having a regulatory license.

Hyperliquid is a decentralized exchange (perp-DEX) operating on its own blockchain. Being added to the list is not a direct ban on operations or the start of enforcement actions. As platform representatives explained, it simply means that MAS considers it necessary to warn investors that this service does not have and does not seek to obtain a license from the regulator.

The Hyperliquid team emphasized that their infrastructure is publicly accessible, and users store their own assets independently. Transactions are processed in a decentralized and transparent manner. "Nothing has changed on the network," they stated, adding that many major exchanges and DeFi protocols are already on the MAS list.

It is worth noting that since the beginning of summer, the regulator has also added centralized exchanges KuCoin and Bitget to this list. This indicates that MAS is consistently tightening control over the cryptocurrency market, especially regarding unlicensed platforms.

Recall that back in June 2025, MAS required all crypto companies serving foreign clients to obtain a digital token service provider license. Otherwise, they face the termination of operations within Singapore's jurisdiction.

My analysis: The inclusion of Hyperliquid on the MAS list is not so much a sanction as a signal to the market. The regulator clearly defines the boundaries: DeFi protocols without a legal entity and license should not be perceived as safe. For investors, this is a reminder that working with unlicensed platforms carries increased risks, even if the technology seems reliable. Singapore continues to build one of the strictest, yet most transparent, cryptocurrency regulatory regimes in Asia.