The Hyperliquid Policy Committee (HPC) has submitted its official feedback to the European Commission on the evolution of MiCA (Markets in Crypto-Assets Regulation), marking its first regulatory filing outside the United States. The HPC urges the Commission to build upon existing EU frameworks, such as MiFID II, rather than constructing new regimes. It advocates for the classification of tools to follow economic substance over form, allowing perpetual contracts to be managed under MiFID II via existing ESMA guidelines, without the need for new legislation. The Committee also calls on EU regulators to acknowledge the native verifiability of public blockchains to eliminate redundant reporting requirements for data already recorded on-chain, and to ensure European investors have unrestricted access to global liquidity pools.