The Financial Authority of Singapore (MAS), the city-state’s central financial institution and monetary regulator, has added decentralized perpetuals alternate Hyperliquid to its Investor Alert Checklist.
The entry, added on Friday, contains the Hyper Basis web site and the Hyperliquid buying and selling app.
The Investor Alert Checklist is a shopper safety measure that identifies entities which may be wrongly perceived as licensed or regulated by MAS. Inclusion on the record doesn’t represent a ban or enforcement motion.
MAS Investor Alert Checklist. Supply: MAS
MAS added crypto alternate Bybit to the record on June 17. KuCoin and Bitget additionally seem on the record. Cointelegraph reached out to MAS for remark however didn’t obtain a response earlier than publication.
Hyperliquid stated that it has by no means claimed to be licensed or approved by MAS and that nothing about its permissionless infrastructure has modified.
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“The Hyperliquid ecosystem stays dedicated to partaking collaboratively and constructively with regulators and establishments globally and to supporting clear, well-designed frameworks for onchain finance,” the platform wrote in a Friday X put up.
Based on CoinGecko, Hyperliquid ranks because the ninth-largest decentralized alternate by buying and selling quantity, whereas DefiLlama estimates it holds about $5.7 billion in whole worth locked.
Singapore tightens crypto oversight
Singapore has steadily tightened oversight of the cryptocurrency business lately. In Could 2025, MAS ordered crypto firms serving abroad prospects to both receive licenses or stop operations, saying the coverage mirrored a long-standing regulatory place slightly than a shift in strategy.
The directive closed a regulatory loophole that had allowed some crypto corporations primarily based in Singapore to keep away from licensing by serving solely abroad prospects. MAS stated it had constantly communicated its place since 2022 and was ending the transition interval for corporations that had continued working with no license.
MAS stated the measures had been supposed to strengthen shopper safety and align the Lion Metropolis’s crypto framework with worldwide requirements on Anti-Cash Laundering and Countering the Financing of Terrorism.
Journal: How crypto legal guidelines modified in 2025 — and the way they’ll change in 2026