PANews October 20 news: The Hyperliquid Policy Center (HPC) submitted a comment letter to the U.S. SEC on October 19 in support of its "Crypto Asset Regulatory Rules" proposal, and put forward five suggested amendments: write the recognition of qualifying airdrops into the formal rules, clarifying that claiming and compliance operations do not constitute payment of consideration; clarify the intermediary status of secondary market trading and on-chain protocols; allow projects to use the safe harbor without default acknowledgment that the token previously involved an investment contract, and extend protection to the development stage; incorporate token buyback guidance, distinguishing buybacks automatically executed under established rules from discretionary buybacks; ensure that exemptions from state-level registration requirements remain continuously effective after a project satisfies the safe harbor conditions. The proposal is intended to allow startup projects to issue tokens of n
PANews October 20 news: The Hyperliquid Policy Center (HPC) submitted a comment letter to the U.S. SEC on October 19 in support of its "Crypto Asset Regulatory Rules" proposal, and put forward five suggested amendments: write the recognition of qualifying airdrops into the formal rules, clarifying that claiming and compliance operations do not constitute payment of consideration; clarify the intermediary status of secondary market trading and on-chain protocols; allow projects to use the safe harbor without default acknowledgment that the token previously involved an investment contract, and extend protection to the development stage; incorporate token buyback guidance, distinguishing buybacks automatically executed under established rules from discretionary buybacks; ensure that exemptions from state-level registration requirements remain continuously effective after a project satisfies the safe harbor conditions. The proposal is intended to allow startup projects to issue tokens of no more than $5 million within four years, and to establish a separate financing exemption of up to $75 million every 12 months.