Hyperliquid's Policy Center (HPC) has submitted five amendments to the SEC's proposed Regulation Crypto Assets. The organization is advocating for the establishment of exemptions for airdrops, clarification of rules regarding secondary trading of tokens via decentralized protocols, and a distinction between automated and managed asset buybacks. Additionally, HPC has called for the expansion of legal protections for developers and the preservation of exemptions from certain state requirements. The SEC's proposal allows for raising up to $75 million annually without registering a securities offering, provided specific conditions are met. Public commentary on the proposal is set to conclude on October 20.