Hyperliquid Policy Center submits feedback to European Commission on MiCA review

On September 30th, the Hyperliquid Policy Center submitted feedback on the European Commission's MiCA targeted consultation, advocating that the classification of MiCA and MiFID II should be based on the economic characteristics of the tool, and ledger technology should not play a decisive role; Cryptocurrency assets that meet the definition of financial instruments should be subject to industry legislation; Perpetual futures should be regulated under the MiFID II framework; The Hyperliquid Policy Center calls for regulatory calibration based on the actual functions and product risks performed by market participants, and believes that the transparency, tamper proof records, and verifiable settlements of public chains can help achieve regulatory goals and facilitate compliance of regulated intermediaries.