Singapore warns Hyperliquid, Indonesia licenses crypto influencers
Singapore adds Hyperliquid to its investor alert list, while Indonesia introduces a licensing scheme for crypto influencers, tightening regulatory oversight in Asia.
Singapore's central bank has added Hyperliquid, a decentralized exchange, to its investor alert list, warning the public that the platform is not licensed or regulated in the city-state. Meanwhile, Indonesia has launched a licensing program for social media influencers who promote crypto assets, requiring them to pass exams and register with the commodities regulator.
The move by the Monetary Authority of Singapore (MAS) places Hyperliquid alongside other crypto firms flagged for operating without a license. This follows a broader trend of Asian regulators tightening oversight on decentralized platforms, which often lack clear jurisdictional accountability. For crypto traders, such warnings can signal increased scrutiny and potential restrictions on access to certain platforms from Singapore-based IP addresses. Indonesia's influencer licensing scheme aims to curb misleading promotions and protect retail investors, a common concern in emerging crypto markets.
Traders should monitor whether other Asian jurisdictions follow suit with similar actions against decentralized exchanges or influencer marketing. Regulatory developments in major Asian financial hubs like Singapore often set precedents for the region. The effectiveness of Indonesia's licensing program will be closely watched, as it could influence how other countries approach the regulation of crypto social media promotion. NowPrice's live crypto dashboard allows traders to track market reactions to these regulatory news in real time.