The Hyperliquid Policy Center submitted its first European regulatory response to Brussels’ consultation on MiCA revision. The perpetual contracts platform requests that its products remain under the existing MiFID II framework without new specific legislation. It opposes the application of CFD rules that cap leverage at 2:1 and highlights its centralized order book model as distinct from bilateral contracts. HPC also calls for an end to redundant reporting on onchain data and maintaining European investors’ access to global order books. ESMA, conversely, advocates for stronger supervision of crypto platforms with clearer criteria for decentralization.
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