According to CoinMeta, on October 19th, the Hyperliquid Policy Center submitted a letter of opinion to the US SEC, supporting its proposals for the regulation of crypto assets and making five suggestions for modification. These include incorporating eligible airdrops into the rules, clarifying the intermediary status of secondary market transactions and on-chain protocols, allowing projects to use the safe harbor without default recognition that tokens involve investment contracts, including token repurchase guidelines, and ensuring that state-level registration exemptions remain valid after projects meet the safe harbor conditions. The proposal intends to allow startups to issue no more than 5 million dollars worth of tokens within 4 years, with an additional exemption of up to 75 million dollars in financing every 12 months.