Hyperliquid has been added to the MAS "Alert List": what this means for the platform and its users
On June 26, the Monetary Authority of Singapore (MAS) added the website of the decentralized exchange Hyperliquid, as well as the portal of its governing organization, the Hyper Foundation, to its official list of services that may be mistakenly perceived as licensed by the regulator.
This action by the MAS is not a direct ban or the start of enforcement measures. As the Hyperliquid team itself emphasized, being included on the list is more of a preventive measure to warn investors, rather than a sign of a violation. In a statement, protocol representatives noted that Hyperliquid did not claim to have an MAS license and should not be considered a regulated platform. "Nothing has changed on the network. Users still self-custody their assets, and all transactions are processed transparently," they added.
It is important to understand that this step by the MAS fits into the broader context of the regulator's tightening policy. Since the beginning of summer, centralized exchanges KuCoin and Bitget have been added to a similar list. And in June 2025, the MAS mandated that all crypto companies working with Singaporean users must obtain a license as a digital token service provider. Otherwise, they face the termination of services for foreign clients.
Expert opinion. The inclusion of Hyperliquid on the MAS list is an important signal, but not a catastrophe. For purely decentralized protocols with no jurisdictional ties, such regulatory actions are more informational in nature. However, it serves as a reminder of the growing pressure on the entire DeFi sector. Hyperliquid users should monitor developments, but for now, there is no reason to panic — the platform continues to operate normally.