On 26 June, the Monetary Authority of Singapore (MAS) added the Hyperliquid website for a decentralized platform for trading perpetual futures and the associated Hyper Foundation to a special list. This list includes services that users may mistakenly associate with licensed activities.

The Hyperliquid team responded promptly to the incident, emphasizing that this inclusion did not amount to a ban on work or the application of any coercive measures. Representatives of the exchange recalled that a similar list already contained many large centralized and decentralized projects. The platform has positioned itself as a public infrastructure that never claimed to be licensed by the Singapore regulator, and urged users not to mislead themselves. The technical aspects of the network have remained unchanged: customers still control their own funds, and all transactions are conducted in a fully transparent mode.

It is worth noting that the Singapore regulator’s list is regularly replenished. Earlier this summer, it added large centralized exchanges KuCoin and Bitget. This tightening of controls comes against the backdrop of strict regulations introduced in Singapore as early as June 2025. The local regulator then required all crypto companies to obtain a license as a digital token service provider, otherwise barring services for foreign customers.