Crypto firms Hyperliquid and Circle are actively lobbying European regulators to adjust MiFID II and MiCA frameworks, seeking to influence derivatives trading and stablecoin reserve requirements.
Hyperliquid's policy group is actively lobbying for perpetual futures (perps) to be classified under the Markets in Financial Instruments Directive II (MiFID II) framework. This strategic move aims to align their derivatives trading operations with established EU financial regulations, potentially providing a clearer legal pathway for their services within the European market.
Hyperliquid is advocating for its perpetual futures products to be regulated under the MiFID II framework.
Circle is lobbying against MiCA's bank deposit floor for stablecoin reserves, which could affect USDC's reserve management and competitiveness in the EU.
Hyperliquid's policy arm is advocating for perpetual derivatives to fall under MiFID II regulations, signaling a shift in its European operational strategy. Simultaneously, Circle is challenging the bank deposit floor requirements for stablecoin reserves within the MiCA framework, aiming to reshape reserve management standards for USDC.
Hyperliquid's policy group aims to bring perpetual derivatives under the MiFID II framework to clarify the regulatory status of its trading operations in Europe.
Circle is lobbying against the bank deposit floor requirements for stablecoin reserves, arguing that these rules could impact the competitiveness and management of USDC.