Bitwise, Hyperliquid seek SEC rule changes for token trading, airdrops
The firms are seeking clearer guidance on the classification of crypto assets and secondary-market trading as the SEC’s public comment period comes to a close.
Bitwise Asset Management and the Hyperliquid Policy Center have requested clearer guidance from the SEC on the classification of crypto assets and secondary-market trading. The firms submitted comment letters to the SEC on Oct. 19, urging the agency to revise its proposed Regulation Crypto Assets and provide clearer rules for token classifications, airdrops, and secondary-market trading.
Bitwise asset managers want a standard they can apply using publicly available information, while Hyperliquid called for broader protections for airdrops and guidance on token buybacks. The SEC is accepting public comments on the proposal until Tuesday, and the commission has not announced a timeline for a final decision.
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