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 are pressing the US Securities and Exchange Commission (SEC) to revise its proposed crypto rules, seeking clearer guidance on token classifications, airdrops and secondary-market trading in comment letters submitted Monday. The requests come as the SEC closes public comments Tuesday on its proposed Regulation Crypto Assets, which would create exemptions for qualifying crypto fundraising and a conditional safe harbor for tokens associated with investment contracts.