The Monetary Authority of Singapore (MAS) has stated that decentralized trading platform Hyperliquid does not fall within its regulatory jurisdiction, noting it remains unclear whether the platform is regulated by any major authority. Hyperliquid Labs confirmed the platform is currently unregulated and has never claimed MAS licensure, though it expressed willingness to engage in constructive communication with regulators. Hyperliquid Labs verified that its registered headquarters is located in Singapore, where recent job postings indicate an active office presence. The platform reportedly relocated to Singapore in 2024, despite the regulator's position that its operations remain outside MAS oversight.