Hyperliquid confirms Singapore headquarters as MAS says the platform falls outside its jurisdiction
Hyperliquid Labs confirmed its Singapore base and lack of a MAS license, while the Monetary Authority of Singapore, per the FT, regards the decentralized platform as outside its jurisdiction.
Why it matters
The case shows a gap between where a decentralized platform has a corporate office and which regulator claims oversight of it. Investors in Singapore have a MAS alert listing but no MAS-supervised venue for the product.
Key facts
Hyperliquid Labs confirmed to the FT that it is based in Singapore, and company documents list Singapore as its registered headquarters.
Reported by TheNewsCrypto
MAS told the FT it is not aware that Hyperliquid is regulated in any major jurisdiction.
Reported by Crypto.News
People familiar with MAS's thinking told the FT the regulator considers the decentralized platform outside its jurisdiction and not based in Singapore.
Reported by The Defiant
Hyperliquid said it is not, and has never claimed to be, licensed or authorized by MAS.
Reported by TheNewsCrypto
MAS added Hyperliquid to its Investor Alert List on June 26 without imposing a ban.
Reported by Crypto.News
What happened
The Financial Times reported on October 7 that Hyperliquid Labs confirmed it is based in Singapore, with company documents listing the city-state as its registered headquarters. MAS told the FT it is not aware of Hyperliquid being regulated in any major jurisdiction. The Defiant, Crypto.News and CryptoPotato relayed the FT's account that people familiar with MAS's thinking said the regulator does not consider the platform to be based in Singapore because it is decentralized. Hyperliquid said it is unregulated and has never claimed MAS licensing or authorization, and said it is willing to work constructively with regulators. Crypto.News added that MAS put Hyperliquid on its Investor Alert List on June 26 without a ban. The view on jurisdiction comes from unnamed people, not an on-record MAS statement.
How the story developed
- First report
First report by TheNewsCrypto
Hyperliquid and MAS Clash Over Singapore’s Regulatory Reach
- Update
FT reports Hyperliquid confirms Singapore base and MAS says it is unaware of regulation
Reported by outlets on October 7.
- Independent corroboration
Independently corroborated by The Defiant
Hyperliquid Confirms Singapore Base but Says It Has No MAS License
- Official statement
MAS adds Hyperliquid to Investor Alert List
No ban imposed.
- Official statement
Hyperliquid states it has never claimed MAS license or authorization
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 7 Oct 2026, 07:17 UTC: TheNewsCrypto — 1 independent source, 1 reports
- 7 Oct 2026, 09:15 UTC: Crypto News (CryptoNews.net) — 2 independent sources, 2 reports
- 7 Oct 2026, 16:42 UTC: The Defiant — 3 independent sources, 3 reports
- 7 Oct 2026, 20:00 UTC: Crypto.News — 4 independent sources, 4 reports
- 7 Oct 2026, 21:55 UTC: CryptoPotato — 5 independent sources, 5 reports
Affected entities
Also mentioned: Hong Kong, Bitcoin, Commodity Futures Trading Commission, Robinhood
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| TheNewsCrypto Crypto media | Hyperliquid and MAS Clash Over Singapore’s Regulatory Reach | Original | |
| The Defiant Crypto media | Hyperliquid Confirms Singapore Base but Says It Has No MAS License | Independent | |
| Crypto.News Crypto media | Hyperliquid confirms Singapore base as MAS says it falls outside its remit | Independent | |
| CryptoPotato Crypto media | Hyperliquid Faces Singapore Regulatory Questions Despite Local HQ: Report | Independent | |
| Crypto News (CryptoNews.net) Aggregator | Monetary Authority of Singapore Questions Hyperliquid’s | Syndicated |
Related events
dtcpay closes $25 million Series A with SBI Group as strategic investor
Singapore stablecoin payments firm dtcpay completed a $25 million Series A after Japan's SBI Group joined as a strategic investor.
Bank Negara Malaysia and Bank of Thailand join Singapore's BLOOM cross-border stablecoin initiative
Malaysia and Thailand's central banks joined Singapore's BLOOM initiative for cross-border stablecoin and tokenized deposit payments.
Singapore crypto activity rose 55.4% to $284 billion, Chainalysis says, as CSAO region shrank 6.8%
Chainalysis put Singapore's crypto activity at $284 billion for July 2025 to June 2026, up 55.4%, while the wider CSAO region contracted 6.8%.
OKX executive makes the case that crypto's future runs through regulation
In an interview published by Brave New Coin, OKX regional chief Gracie Lin argues tighter regulation helps crypto adoption, while conceding Singapore's marketing rules limit consumer reach.
Singapore's proposed stablecoin rules would recognise some foreign-issued coins
Crypto News reports Singapore's proposed stablecoin framework would recognise certain foreign-issued stablecoins regulated under comparable overseas regimes, per a Reed Smith analysis.
SEC Grants Five-Year Exemption for Tokenized US Stocks on Permissioned AMMs
The SEC approved a temporary exemption on September 17 allowing qualifying venues to trade tokenized US stocks on public blockchains without registering as exchanges.
