Hyperliquid follows Bybit onto Singapore's "naughty" list, Indonesia's new scheme to certify social media influencers promoting crypto: Asia Express.
The Monetary Authority of Singapore (MAS), the city-state's central bank and financial regulator, has added decentralized perpetuals exchange Hyperliquid to its Investor Alert List.
The entry, added on Friday, includes the Hyper Foundation website and the Hyperliquid trading app.
The Investor Alert List is a consumer protection measure that identifies entities that may be wrongly perceived as licensed or regulated by MAS. Inclusion on the list does not constitute a ban or enforcement action.
MAS added crypto exchange Bybit to the list on June 17 and KuCoin and Bitget also appear.
Hyperliquid said that it has never claimed to be licensed or authorized by MAS and that nothing about its permissionless infrastructure has changed.
Don't look at this if you are in Singapore. (Hyperliquid)
Indonesia’s financial regulator has introduced certification requirements for influencers who recommend crypto and other digital financial assets, as the country expands oversight of financial promotions on social media.
Under Financial Services Authority Regulation No. 6 of 2026, announced Wednesday, individuals recommending digital assets must obtain competency certifications unless they are already subject to a separate licensing requirement.
Influencers may recommend only digital assets listed on authorized exchanges, while any service provider they recommend must also be licensed. Marketing campaigns must be conducted through regulated financial services businesses, which are responsible for the promotional content, and distributed through their official communication channels.
Indonesia joins a growing number of jurisdictions tightening oversight of financial influencers, also called finfluencers, with Australia and the United Kingdom introducing broader rules for investment promotions and the Philippines adopting crypto-specific marketing restrictions.
South Korean cryptocurrency exchange Bithumb was order to pay a $136,000 fine after it was found to have breached personal information protections rules when it sent user data overseas.
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