Bitwise, Hyperliquid seek SEC rule changes for token trading, airdrops

Crypto firms Bitwise and Hyperliquid have formally requested the U.S. Securities and Exchange Commission (SEC) to enact new rules governing digital asset trading and airdrops. Their petitions focus on obtaining more explicit regulatory clarity regarding the classification of various crypto assets. Additionally, they are seeking guidance on the rules applicable to secondary market trading of these assets. These requests come as the SEC's public comment period on related matters draws to a close. The firms aim to establish a more defined legal framework to foster innovation and compliance within the digital asset space. Clearer rules are anticipated to reduce uncertainty for both businesses and investors operating in the crypto market.