Hyperliquid Says It Is Registered in Singapore as MAS Points to Decentralized Structure

Hyperliquid told the Financial Times that it is officially registered in Singapore, while the Monetary Authority of Singapore says the decentralized platform falls outside its jurisdiction.
The situation highlights a growing regulatory challenge around decentralized financial platforms, where corporate registration and regulatory responsibility may not align cleanly with the operation of an underlying protocol.
Hyperliquid's structure could become an important example as regulators determine how existing financial rules apply to decentralized trading infrastructure.