SEC rulemaking faces push

The Hyperliquid Policy Center filed a comment letter with the U.S. Securities and Exchange Commission on Monday supporting proposed Regulation Crypto Assets and asking for five revisions before the commission votes.

The policy center backed a proposal that would let qualifying crypto projects raise up to $5 million over as long as four years under a startup exemption, or up to $75 million in any 12-month period under a separate fundraising exemption.

The policy center urged the SEC to write its March interpretation into the rule text so that a free token distribution is not an investment of money when recipients give no tangible, definable consideration.

The policy center also asked the SEC to separate automated…