Bitwise and Hyperliquid Push SEC for Clearer Crypto Rules as Consultation Closes

Bitwise Asset Management and the Hyperliquid Policy Center filed comment letters on 19 October asking the US Securities and Exchange Commission to sharpen its proposed Regulation Crypto Assets. Public comment on the rules closed the next day. The SEC proposed the framework on 18 August with two registration exemptions for token sales, the smaller covering up to US$5 million (AU$7.15 million) over four years. A safe harbour, Rule 400, would free a token from its investment contract once the issuer has completed or permanently ceased the managerial work it promised investors and certifies that on a new Form TR.