The Hyperliquid Policy Center asked the SEC to distinguish automated token repurchases governed by predefined blockchain code from discretionary buybacks managed by centralized project operators or corporate entities.

Cryptocurrencies, blockchains, and the broader on-chain economy.

How governments worldwide set rules for digital assets through legislation, agency rulemaking, licensing regimes and court fights.

Economic design of a token: supply schedule, distribution, incentives, and value-capture mechanics, and how those choices shape price and network health.