Hyperliquid Policy Committee submits feedback to the EU on the evolution of MiCA, calling for improving the crypto asset regulatory framework based on the principles of "technology neutrality" and "functionality orientation".

BlockBeats news, October 1: The Hyperliquid Policy Committee (HPC) submitted feedback in response to the European Commission's targeted consultation on the evolution of the MiCA framework, marking its first policy submission outside the United States.

The HPC called on the EU to make moderate calibrations based on the existing financial regulatory framework rather than starting over. Its core positions include: adhering to the classification principle of "technology neutrality and economic substance," and recommending that on-chain perpetual contracts be explicitly brought under the MiFID II regulatory framework for traditional financial instruments through existing ESMA guidance, without the need for separate legislation; emphasizing that perpetual contracts are matched based on a public central limit order book, unlike traditional contracts for difference (CFDs) in which market makers take the other side, and therefore should not mechanically apply the harsh retail restrictions targeting CFDs; and calling on regulators to recognize the native verifiability of public blockchains' openness and transparency, exempt regulated institutions from the duplicate reporting burden of submitting data already publicly available on-chain, and ensure that EU investors can access global liquidity to maintain competitiveness.