Hyperliquid and Circle Urge EU to Revisit Perpetual Futures and Stablecoin Reserve Rules in MiCA Review
(1 day ago) · 1 source · Summarized by CryptoBipto
Hyperliquid's policy arm and stablecoin issuer Circle have submitted feedback to the European Union pressing for changes to the Markets in Crypto-Assets (MiCA) regulation. Their submissions focus on rules governing perpetual futures contracts and stablecoin reserve requirements as part of a scheduled MiCA review process.
WHY IT MATTERS
MiCA is the European Union's rulebook for crypto — think of it like a set of traffic laws, but for digital assets. Two major crypto companies are now asking the EU to change some of those rules. Hyperliquid runs a trading platform for something called perpetual futures, which are bets on the future price of a crypto asset that never expire — unlike a traditional futures contract that has a set end date. Circle issues USDC, a stablecoin designed to always be worth one US dollar, and is pushing back on rules about how it must hold money in reserve to back those tokens. This matters because how the EU writes these rules could shape what crypto products and services are available to people in Europe, and could also influence how other countries approach similar regulations.
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