Hyperliquid Policy Center has submitted comments to the U.S. Securities and Exchange Commission (SEC) regarding its proposed crypto asset regulations, calling on the SEC to clarify free token airdrops, expand the scope of secondary trading for exempted tokens, extend safe harbors, and clarify token repurchase rules. The SEC's proposal includes an exemption for startup token offerings up to $5 million over four years, and an exemption for qualified fundraising up to $75 million in any 12-month period.