- MAS added Hyperliquid to its Investor Alert List, signaling caution without imposing a ban.
- Hyperliquid says the listing is not a ban or an enforcement action, and continues operating normally.
- This signals growing regulatory oversight in Singapore and potential implications for DeFi protocols.
On June 26, 2026, according to sources, the Monetary Authority of Singapore (MAS) added Hyperliquid, a high-performance Layer 1 blockchain and decentralized perpetuals DEX, to its Investor Alert List (IAL).
Hyperliquid, with a monthly trading volume that currently averages between $200 billion and $225 billion, was listed alongside its associated websites: hyperfoundation.org and app.hyperliquid.xyz/trade.
What Is the MAS Investor Alert List?
The IAL is a public tracking registry maintained by the MAS to warn local consumers about entities that may be mistakenly perceived as licensed, authorized, or regulated operating in Singapore. It primarily functions as an investor education and consumer protection mechanism.
Importantly, inclusion on the IAL is not a ban, enforcement action, or finding of wrongdoing. Instead, it serves as an investor education tool, warning that dealings with listed entities do not carry the regulatory protections available when using MAS-licensed or authorized firms.
Hyperliquid’s Official Response
Hyperliquid has responded promptly to the MAS Investor Alert List addition through its official X account. In its statement, the protocol stressed that the IAL listing “does not constitute a ban, an enforcement action, or a finding of wrongdoing.”
It clarified that the list simply flags entities that “may be wrongly perceived as being licensed or in any other way authorised or regulated by MAS,” noting that many large exchanges and DeFi protocols have previously been included.
Meanwhile, Hyperliquid has emphasized its position as permissionless infrastructure, stating it has “never claimed to be licensed or authorised by MAS” and that “nothing about the network has changed.” It highlighted that users maintain self-custody with full on-chain settlement.
The response concluded by reaffirming the ecosystem’s commitment to “engaging collaboratively and constructively with regulators and institutions globally” while supporting clear regulatory frameworks for on-chain finance.
Broader Impact on Crypto Regulation in Singapore
The addition of Hyperliquid to the IAL continues a clear pattern of heightened scrutiny by Singapore’s MAS toward unlicensed crypto platforms. Just nine days earlier, on June 17, MAS added major centralized exchange Bybit to the same list, joining earlier entries such as KuCoin (February 2026) and Binance (since 2021).
Meanwhile, for Hyperliquid users, the MAS listing has no immediate operational impact. Trading, deposits, withdrawals, self-custody, and on-chain settlement continue as normal across all products. The listing is primarily a regulatory disclosure that does not alter the protocol’s functionality or indicate any enforcement action against the platform.
Furthermore, these actions reflect Singapore’s dual-track approach to crypto regulation. The country continues to promote innovation through initiatives such as Project Guardian, which explores regulated tokenization and DeFi applications. At the same time, MAS maintains strict safeguards against unregulated crypto platforms and services targeting retail investors.
Related: Singapore’s New Crypto Licensing Mandate Kicks in June 30
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
