What does it mean that Hyperliquid (CRYPTO:HYPE) has been added to Singapore's MAS Investor Alert List?

The Monetary Authority of Singapore (MAS) added Hyperliquid (CRYPTO:HYPE) to its Investor Alert List on 26 June 2026, flagging the platform as unlicensed and unauthorised to operate in Singapore. This is a consumer warning, not a ban or fraud finding — it means Singaporean users trading on Hyperliquid have no regulatory protection or recourse if something goes wrong.

Is Hyperliquid (CRYPTO:HYPE) banned in Singapore?

No. Being placed on the MAS Investor Alert List does not block access to the platform or its tokens. It signals that Hyperliquid is not licensed under Singapore's Payment Services Act, so local users are not covered by MAS consumer safeguards. Hyperliquid has stated it is permissionless infrastructure and has never claimed to hold a MAS licence.

Why is MAS cracking down on crypto exchanges operating in Singapore?

MAS has been tightening its licensing framework since 2022, requiring firms serving overseas clients from Singapore to obtain local licences or cease operations — a directive formalised in May 2025. The regulator closed a loophole that had allowed platforms to avoid licensing by targeting foreign users, and has linked the framework to anti-money laundering and counter-terrorism financing standards.

Which other crypto exchanges are on the MAS Investor Alert List alongside Hyperliquid (CRYPTO:HYPE)?

Bybit was added on 17 June 2026, with KuCoin and Bitget listed on earlier entries. None of these listings constitute a finding of wrongdoing. The list is a public register MAS maintains to inform investors when a financial service provider has not obtained the proper licences to operate in Singapore.

How big is Hyperliquid (CRYPTO:HYPE) and does the MAS listing change its fundamentals?

Hyperliquid holds approximately US$5.7 billion in total value locked and generated approximately US$873 million in revenue across approximately US$2.9 trillion in trading volume in 2025, per BeInCrypto and DefiLlama. The MAS listing does not alter the protocol's on-chain operations — Hyperliquid's infrastructure runs independently of any single regulator — but it adds headline risk and may affect institutional engagement in Singapore.

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Hyperliquid named on Singapore MAS investor alert register

Written by Heidi Cuthbert Published Jun 26, 2026, 2:37 PM

Singapore's Monetary Authority (MAS) added Hyperliquid (CRYPTO:HYPE) to its Investor Alert List on 26 June 2026, flagging the platform as unlicensed and unauthorised to operate in the city-state, per CryptoBriefing.
The listing is a consumer warning, not a ban or a finding of wrongdoing — it signals that users have no regulatory recourse under Singapore's consumer protection framework if losses occur on the platform.
MAS added Bybit to the same list on 17 June 2026 as part of a broader push to enforce its Payment Services Act licensing requirements against offshore digital asset platforms, per AMBCrypto.

In May 2025, MAS directed firms serving overseas clients from Singapore to obtain licences or cease operations, closing a loophole that had previously allowed platforms to avoid licensing by targeting foreign users.

MAS explained that this stance had been communicated consistently since 2022 and that the directive aligns the framework with anti-money laundering and counter-terrorism financing standards.

Hyperliquid's team, which is based in Singapore, has not sought a MAS licence, stating that as permissionless infrastructure it has never claimed to be licensed or authorised, per CryptoBriefing.

Hyperliquid operates as a Layer 1 blockchain (a self-contained network that processes its own transactions) with a built-in perpetual futures exchange running a fully on-chain order book that processes up to 200,000 orders per second with a 0.07-second block time, per CoinMarketCap.

DefiLlama estimates the platform holds approximately US$5.7 billion in total value locked (TVL), with US$8.78 billion in perpetuals volume and US$4.61 million in app fees recorded in a single 24-hour window in late June 2026.

Hyperliquid generated approximately US$873 million in revenue across approximately US$2.9 trillion in trading volume in 2025, and commands roughly 59–70% of all on-chain perpetual futures volume, per BeInCrypto.

The HYPE token carries a market capitalisation of approximately US$14.1 billion on a circulating supply of 220 million tokens, per DefiLlama.

According to CoinGecko, Hyperliquid ranks as the ninth-largest decentralised exchange by volume, a position that reflects its dominance in on-chain derivatives rather than spot trading.

In March 2026, Hyperliquid launched S&P 500 perpetual contracts under licence from S&P Dow Jones Indices, recording US$100 million in daily volume in the first week, per BeInCrypto.

Other exchanges also appear on the MAS Investor Alert List, including Bybit, KuCoin, and Bitget, based on earlier entries.

The alert list remains publicly accessible for users and institutions and provides updated information on entities that may appear regulated in Singapore.

MAS continues to publish updates through its alert list and regulatory notices, with the agency maintaining its focus on transparency and compliance within the crypto sector.

At the time of reporting, Hyperliquid price was $64.45.