Hyperliquid said it has been added to the Monetary Authority of Singapore’s (MAS) Investor Alert List (IAL), emphasizing that the inclusion does not constitute a ban, enforcement action, or regulatory finding of wrongdoing.
Hyperliquid has been added to the MAS’s Investor Alert List (IAL). IAL listing does not constitute a ban, an enforcement action, or a finding of wrongdoing. The IAL provides a list of entities that, based on information available to MAS, may be wrongly perceived as being licensed…
— Hyperliquid (@HyperliquidX) June 26, 2026
In a public statement, the decentralized trading protocol said the MAS Investor Alert List is intended to identify entities that, based on information available to the regulator, may be wrongly perceived as being licensed, authorized, or regulated by MAS. Hyperliquid said it has never represented itself as holding such authorization.
The protocol said:
“IAL listing does not constitute a ban, an enforcement action, or a finding of wrongdoing. Many major cryptocurrency exchanges and decentralized finance (DeFi) protocols have also appeared on the list.”
The clarification comes as Singapore continues to tighten oversight of digital asset businesses. The MAS Investor Alert List is maintained to help investors identify entities that may be mistaken as regulated by the central bank, even though they are not licensed under Singapore’s financial regulatory framework.
Singapore requires digital asset service providers serving local users to comply with licensing requirements under the Payment Services Act. Licensed firms are expected to meet standards covering areas such as anti-money laundering controls, counter-terrorism financing measures, governance, and consumer protection. MAS uses the Investor Alert List to distinguish entities that are not licensed or authorised from regulated financial institutions.
Protocol says network operations remain unchanged
Hyperliquid described itself as permissionless infrastructure and said nothing about the underlying network has changed following the listing.
The protocol stated that users continue to retain self-custody of their assets, while transactions settle transparently and entirely on-chain. It reiterated that it has not sought to present itself as a licensed or MAS-authorized entity.
According to MAS, inclusion on the Investor Alert List is intended to alert the public that an entity may be wrongly perceived as being licensed or regulated by the authority. The list itself does not indicate that an entity has violated the law or that enforcement action has been taken against it.
For users in Singapore, inclusion on the Investor Alert List means transactions conducted through Hyperliquid are not covered by regulatory protections available when dealing with MAS-licensed financial institutions. While the listing does not prohibit access to the platform or imply misconduct, MAS advises investors to exercise caution when dealing with entities that are not regulated by the authority.
Hyperliquid Follows Bybit on MAS Investor Alert List
Hyperliquid said it remains committed to engaging constructively with regulators and institutions worldwide while supporting the development of clear regulatory frameworks for on-chain finance.
Hyperliquid’s inclusion follows the addition of crypto exchange Bybit to the same Investor Alert List on June 17. The two listings within the same month underscore MAS’s continued efforts to clarify which crypto platforms are not licensed or authorised to operate under Singapore’s regulatory framework.
Bybit is aware that Bybit Fintech Limited has been included on the Monetary Authority of Singapore’s (MAS) Investor Alert List and is engaging MAS to better understand the basis for this listing.
Bybit has consistently engaged openly and constructively with MAS and has been…
— Bybit (@Bybit_Official) June 18, 2026
The MAS listing comes amid increased attention on Hyperliquid. Recently, Binance founder Changpeng Zhao (CZ) praised the protocol’s innovation while saying Binance would not adopt the same model, and Hyperliquid joined Paradigm in opposing proposed U.S. AML rules for decentralized finance.
The development follows a series of recent additions of major crypto platforms to Singapore’s Investor Alert List as MAS continues to distinguish between licensed providers and entities operating without local authorization. In recent weeks, other large cryptocurrency platforms have also been added to the list, with MAS similarly clarifying that inclusion serves as a public advisory rather than a prohibition on operations.
Its ecosystem will continue operating as before and reiterated that users should not interpret the Investor Alert List as evidence that the protocol is licensed, regulated, or endorsed by MAS.
