Hyperliquid Policy Center urges targeted MiCA changes

• Hyperliquid Policy Center has urged targeted changes to the EU’s MiCA framework.
• The group wants perpetual futures treated as derivatives under existing MiFID II rules.
• It also wants regulation to focus on economic function rather than blockchain technology.

The Hyperliquid Policy Center has urged targeted changes to Europe’s crypto rules.

The group submitted its response to the European Commission’s MiCA review on September 30, 2026.

The Hyperliquid Policy Center wrote that MiCA and MiFID II classification should follow an instrument’s economic features.

The policy group wants perpetual futures governed under existing MiFID II derivatives rules.

It also wants regulators to assess instruments individually rather than by the blockchain hosting them.

The Hyperliquid Policy Center said public blockchains provide transparency, immutable records and verifiable settlement by default.

The submission also calls for clearer rules covering onchain derivatives and tokenised financial instruments.

Following the update, HYPE was trading up 0.5% at $90.76.