Hyperliquid Restricted Countries: Who Can't Use It (2026)

“Not named” means only that §1.6 does not list the country. It is not a statement that Hyperliquid is licensed, legal or protected there. Source: app.hyperliquid.xyz/terms, re-read October 15, 2026.

1. Hyperliquid restricted countries at a glance

Hyperliquid's Terms name only two places, the United States and the Canadian province of Ontario. Everything else on the list is a category: jurisdictions under sanctions or export controls, and the citizens of those jurisdictions. The table sums up §1.6 and the separate outcome-markets clause.

Source: Hyperliquid Terms of Use, app.hyperliquid.xyz/terms, last updated June 15, 2026, read September 27, 2026 and again on October 6, 2026 and October 15, 2026 (unchanged). Several guides still cite “Section 1.5”; in the current version the Restricted Persons clause is §1.6.

2. Availability by country: Hyperliquid, Lighter, Aster and edgeX

Switching to another perp DEX does not get you around a restriction, but the four venues we cover do draw their lines in different places. The biggest differences are Canada and the UK: Hyperliquid and edgeX name only Ontario and say nothing about the UK, while Lighter and Aster exclude all of Canada and the UK. Each cell below is what that venue's own Terms say, with the clause.

Clauses: Hyperliquid Terms of Use §1.6 (last updated June 15, 2026); Lighter Terms of Service, the opening notice and the Prohibited Person clause (b) under “Access and Restrictions” (unnumbered; last updated December 29, 2025); Aster Terms and Conditions §2.1(c) (last updated February 25, 2026); edgeX Terms of Use §1.5 (last updated March 24, 2026). All four also exclude sanctioned jurisdictions. “Not named” means only that the country is not on the list; local rules on leveraged derivatives apply to every venue, and checking them is your job. On the registers we checked on October 15, 2026, none of the four is on the CSA's list of authorized crypto platforms (Canada), ESMA's MiCA register (EU) or Japan's FSA register, and Hyperliquid's own Terms say it holds no licence or registration anywhere (§1.3).

Three side rules change the picture for some readers:

• edgeX's airdrop is stricter than its exchange. Its Airdrop Programme Terms (last updated March 16, 2026, §2.B) exclude the US, all of Canada, Iran, North Korea, Russia, Myanmar, occupied parts of Ukraine, Cuba, Yemen, Sudan, South Sudan, Libya, Lebanon and Syria. A trader in British Columbia is not excluded by §1.5 but cannot receive edgeX's airdrop tokens, and claims may require KYC (§3.C).
• Prediction markets have their own lists. Aster’s prediction markets (not its perps) are closed to Japan, the UK, the US, Ontario, Germany, France, Italy, Poland, Belgium, Australia and Singapore, among others. Hyperliquid's app hides its outcome markets in some places too: from Japan the app hides outcome markets but leaves perps trading on (checked October 15, 2026). See section 11.
• Lighter's lists are not identical. lighter.xyz/terms serves two copies of the opening notice (one per screen size): one also names Sudan, Belarus and Myanmar, the other ends with Venezuela and Syria, and the Prohibited Person clause does not name those three. Lighter is run by Elliot Technologies, Inc., and its Terms are governed by Florida (US) law, yet they exclude US persons like the other three.

Which perp DEX can I use outside the US?

Reading the four Terms side by side (and leaving local law to you), this is who is not excluded:

If one of them is open to you, the reviews cover fees, safety and incidents. Codes below apply only where the venue's Terms allow you to sign up:

• Hyperliquid review: one of the largest on-chain perp exchanges by volume. Open with code HOLYGRAIL (4% off fees on your first $25M).
• edgeX review: the other venue that names only Ontario. Open edgeX with code HOLYGRAIL (edgeX publishes no sign-up discount for codes).
• Lighter review: zero-fee standard accounts, for readers in the EU, Japan, Korea and other places not on its list. Open Lighter with code 718610TD (first week of Premium fees rebated).
• Aster review: high-leverage perps, same exclusions as Lighter. Open Aster with code DTLpLc (5% of your fees back).

We earn a commission on sign-ups through these links; it never raises your fees. Do not use any of them from a region the venue excludes.

3. The exact wording: Terms of Use §1.6

Most pages paraphrase the rule. Here is the whole clause, word for word, from the version dated June 15, 2026:

“1.6 The Interface is not available to “Restricted Persons.” For the purposes of these Terms, Restricted Persons include: (a) persons or entities who reside in, are located in, are incorporated in, or have a registered office in the United States of America or Ontario, Canada; (b) persons or entities who reside in, are located in, are incorporated in, or have a registered office in jurisdictions subject to applicable economic and trade sanctions or export control laws and regulations (collectively, “Restricted Territories”); and (c) citizens of Restricted Territories, regardless of their location. Restricted Persons are strictly prohibited from accessing or using the Interface described herein.”

Three other clauses matter for anyone asking “can I use it here?”:

• §1.3: “Neither the Interface nor Hyperliquid are licensed, approved, authorized, endorsed, or registered by any governmental authority or regulatory body in any jurisdiction.” Not being on the restricted list is not the same as being licensed where you live.
• §1.9: you are “solely responsible for determining whether your access to and use of the Interface complies with applicable laws and regulations in your jurisdiction, including … laws governing leveraged or derivative trading and outcome markets.”
• §3.1.5: “Circumvention of Restrictions”. More on this in the VPN section.

The “Interface” is the web app at app.hyperliquid.xyz, run by Hyperliquid Corp. The Terms are governed by English law, with LCIA arbitration in London (§11.4).

4. Who counts: residence, location, incorporation, citizenship

The test in §1.6(a) and (b) has four hooks: where you reside, where you are located right now, where a company is incorporated, and where it has a registered office. Any one of them is enough. Clause (c) adds citizenship, but only for citizens of sanctioned Restricted Territories. Some common situations:

If you are unsure, treat yourself as restricted. §6.1 says Hyperliquid's “determinations regarding the eligibility of any user … shall be final and binding and not subject to challenge or appeal”, so a borderline reading will not protect your account.

5. Sanctioned territories: what the Terms don't list

§1.6(b) restricts “jurisdictions subject to applicable economic and trade sanctions or export control laws and regulations”, but the Terms do not name them. Lists you see elsewhere (Cuba, Iran, North Korea, Syria, Crimea, Donetsk, Luhansk, sometimes Russia or Myanmar) are other sites' readings of that category, not Hyperliquid's text. Most of those names do match US sanctions; a few are out of date or not country-wide.

For orientation only: the US Treasury's OFAC list of active sanctions programs, checked September 27, 2026, includes embargo-style programs for Cuba, Iran and North Korea (country-wide programs), plus the Crimea region of Ukraine (Executive Order 13685) and the so-called DNR and LNR regions of Donetsk and Luhansk (Executive Order 14065). Other programs (Russia-, Belarus-, Venezuela- and Burma-related, among others) mainly block listed people, entities and sectors rather than a whole country. Lists change. The OFAC page no longer shows a country-wide “Syria Sanctions” program, only the narrower PAARSS program, yet many guides still print Syria. “Applicable” sanctions can also include UK, EU or UN measures. If you live in, or are a citizen of, a sanctioned country or region, assume you are restricted.

Sanctioned wallet addresses are a separate issue: §3.1.6 prohibits using the interface for transactions barred by sanctions law, whatever country you are in.

6. Is Hyperliquid available in the US?

No. Hyperliquid is not available in the US, and neither are Lighter, Aster or edgeX. Anyone who resides in, is located in or is incorporated in the United States is a Restricted Person under §1.6(a) and is “strictly prohibited from accessing or using the Interface”. This covers every state and anyone physically in the US, including visitors, and companies incorporated or with a registered office there. The Terms we re-read on October 15, 2026 are unchanged on this point.

The other venues in our comparison table say the same in their own words: Lighter's Terms of Service name “the United States of America” in their opening notice, Aster's §2.1(c) lists it first among its Prohibited Jurisdictions, and edgeX's §1.5 makes its site “strictly unavailable” to US residents, citizens and entities. A US-based reader who wants perpetual-style crypto futures has to use a CFTC-regulated venue (section 7).

Why the US is excluded

The Terms don't give a reason. The context is §1.3: Hyperliquid holds no licence or registration anywhere. In the US, leveraged crypto futures for retail traders go through exchanges and brokers registered with the Commodity Futures Trading Commission (CFTC). A permissionless order book with no registered intermediary doesn't fit that framework, and the Terms also bar US courts for disputes (§11.4).

Will Hyperliquid come to the US? (dated news)

• May 15, 2026: Bloomberg reported that exchange operators ICE and CME were lobbying CFTC officials and Congress to require Hyperliquid to register, citing sanctions-evasion and market-integrity risks (as reported by CoinPost on May 16).
• July 14, 2026: the SEC's Crypto Task Force met representatives of the Hyperliquid Policy Center and other Hyperliquid-ecosystem participants to discuss crypto regulation (as reported by CoinPost from the SEC's meeting memo).
• August 19, 2026: President Trump said US regulators were working to make Hyperliquid usable in the US (Bloomberg).
• August 31, 2026: former SEC senior counsel Ashley Ebersole told crypto.news that a US route would need more than a single CFTC approval and could take 10 to 12 months even if agencies move quickly.

None of this has changed the Terms. In the version we re-read on October 15, 2026 the US is still restricted, and there is no US-regulated way to trade on Hyperliquid.

7. Regulated alternatives for US traders

If you are in the US and want perpetual-style crypto futures, use a CFTC-regulated venue. Two we verified on the firms' own pages on September 27, 2026 (we have no referral relationship with either):

• Coinbase Derivatives: a CFTC-registered Designated Contract Market listing “US Perps” (perpetual-style futures for US customers). Contracts listed include a nano Bitcoin perp (0.01 BTC) and nano Ether perp (0.1 ETH). You trade them through Coinbase Financial Markets or another listed broker. coinbase.com/derivatives
• Kraken Derivatives US: a CFTC-registered futures commission merchant (NFA ID 0309379) offering CME-cleared micro contracts. Kraken's comparison page says “US traders looking for regulated futures access can use Kraken Derivatives US”. Kraken vs Hyperliquid

Other perp DEXs are not a way around this. Lighter's Terms exclude the US, Canada, the UK, China, North Korea, Russia, Ukraine, Cuba, Iran, Venezuela, Sudan, Belarus, Myanmar and Syria, plus sanctioned regions, and Aster's exclude the US, Canada, the UK, China, North Korea, Russia, Ukraine, Cuba, Iran, Venezuela and Syria, plus sanctioned regions. Both include the US. Apps built on Hyperliquid have their own terms, and switching websites doesn't change the laws that apply to you.

8. How the restriction is enforced

The Terms govern the web app, the “Interface”. §1.1 says the Interface “facilitates interaction with Hyperliquid, a decentralized, permissionless, and community-driven blockchain” and “is not the exclusive means of accessing Hyperliquid”. That is why some articles call the restriction “front-end only”. Three things follow:

• You make a promise when you connect. §3.1.5 ends: “By accessing or using the Interface, you represent and warrant that you are not a Restricted Person or Excluded Person as defined in these Terms.” Connecting a wallet binds you to the Terms (§1.4).
• Hyperliquid can cut you off. §6.2 lets the Company “suspend or terminate your participation in any feature on the Interface in its sole discretion” without notice, including where it suspects use that “intentionally subverts the purposes or restrictions of the Interface”. Under §6.1 that decision is final.
• The law is not the website. Being able to reach a permissionless chain doesn't make leveraged trading legal where you live (§1.9). For US persons, the issue is US derivatives and sanctions law, not only the Terms.

There is no KYC. You sign in with a wallet or an email login, but no KYC is not the same as permission. Every trade is public on-chain, and if you bought your USDC on a regulated exchange, that exchange already verified your identity.

9. Hyperliquid IP not allowed? What “Not available in your jurisdiction” means

Each time the web app loads, it asks Hyperliquid's public API whether your connection is allowed (a request called legalCheck, which we read in the app's code on October 15, 2026). The answer is one of four modes:

So a blocked connection (what people search for as “IP not allowed”; the app's own label is “Not available in your jurisdiction”) means one thing: the app thinks your connection comes from a restricted region. What to do depends on where you actually are:

• You are in the US, Ontario or a sanctioned territory: the block is working as intended. You are a Restricted Person under §1.6, and getting around it breaches §3.1.5. Use a regulated venue instead.
• You are somewhere else: check what your traffic goes through. A VPN, proxy, company network or cloud server with an exit point in a restricted country makes you look as if you are there. Switch it off and connect normally. If you still see the block on an ordinary home or mobile connection, ask Hyperliquid's support. Do not try to make your location look like somewhere else; that is what §3.1.5 prohibits.

This is not the same as an API key problem. Hyperliquid API wallets have no IP allowlist; see Hyperliquid API key security for that topic.

10. Can you use Hyperliquid with a VPN? What the Terms say

It is one of the most common questions about Hyperliquid's restrictions, so here is the answer from the Terms. No: it is a breach of the Terms, and we don't describe workarounds.

“3.1.5 Circumvention of Restrictions. Activity that attempts to bypass, evade, or circumvent any restrictions imposed by the Interface or the Company. This includes but is not limited to: (a) using technologies such as VPNs, proxies, or other methods to conceal your location; (b) making false statements or misrepresentations about your residency, citizenship, or compliance with applicable laws; or (c) engaging in any other activity designed to evade the restrictions set forth in these Terms or applicable laws.”

§1.9 adds that by using the Interface you warrant “that you are not using any technology or method to disguise your location or otherwise evade any access restriction”, and §3.2 makes you indemnify the Company for any prohibited activity. The practical risk is §6.2: suspension or termination without notice. A VPN also doesn't change your residence, so it doesn't change which laws apply to you. If you are a Restricted Person, don't use Hyperliquid. Use a regulated venue from section 7.

11. Outcome markets: a second, separate list

Hyperliquid also runs outcome (prediction) markets, and they have their own eligibility rule. §1.7 says outcome markets “are not available to ‘Excluded Persons’”. These are people subject to the laws of “certain jurisdictions that we designate from time to time”, plus anyone for whom using them “would be unlawful or would require us or any third party to obtain any license … that has not been obtained”. §1.8 lets Hyperliquid block the outcome-markets tab and forbids circumventing that block.

The designated list is not published in the Terms, so a country can be fine for perps and still excluded from outcome markets. Google's snippet of the official Outcomes page shows the banner Hyperliquid displays in those cases: “You are accessing the website from a restricted jurisdiction - see the Terms of Use.”

The app decides this per connection with the same legalCheck request: from Japan the app hides outcome markets but leaves perps trading on (checked October 15, 2026), and UK connections get a mode that hides outcome markets as well. Aster's prediction markets publish their list instead; it includes Japan, the UK, several EU states and Ontario.

12. Is Hyperliquid available in Canada?

Only Ontario is restricted. §1.6(a) names “Ontario, Canada” next to the United States, so anyone who resides in, is located in or is incorporated in Ontario is a Restricted Person; a Toronto resident on a trip to Vancouver still resides in Ontario, and a Calgary resident is restricted while physically in Toronto. The other provinces and territories are not named in the Terms.

Ontario vs the other provinces

“Not named” is not the same as “approved in Canada”. Crypto trading in Canada is regulated province by province, and the Canadian Securities Administrators (CSA), the umbrella group of the provincial and territorial regulators, are explicit about foreign platforms: “Platforms located outside of Canada that provide services to Canadians must also be registered in Canada.” Their list of crypto platforms authorized to do business with Canadians (last updated September 18, 2026) names firms such as Coinbase Canada, Kraken's Payward Canada, Crypto.com's Foris DAX CAN and Wealthsimple; none of Hyperliquid, Lighter, Aster or edgeX is on it. The CSA's banned list (last updated October 23, 2025) has 6 entries, including KuCoin and Poloniex under Ontario Securities Commission decisions; none of the four perp DEXs is on it, and the OSC's investor warnings search showed no entry for them on October 15, 2026. CSA Staff Notice 21-327 (January 16, 2020) is the regulators' guidance on when platforms that facilitate crypto trading fall under securities law.

For a reader outside Ontario, that means: Hyperliquid's and edgeX's Terms do not exclude you, Lighter's and Aster's do, and none of the four is registered in Canada, so you have no Canadian investor protection on them. §1.9 makes checking your province's rules on leveraged derivatives your job. Canadians who want a registered platform can use one from the CSA list.

13. Can I use Hyperliquid in the UK?

The UK is not named in §1.6 (the UK appears in the Terms only as governing law, England and Wales, and the LCIA seat in London, §11.4; neither restricts UK users). The regulator's view is different: the FCA added “Hyperliquid” to its Warning List on May 21, 2026, describing it as “not authorised by us and may be targeting people in the UK”. In practice that means no Financial Ombudsman Service and no FSCS protection if something goes wrong. The FCA listing does not make UK residents Restricted Persons under the Terms; it means you trade without UK protections.

Two practical points for UK readers. First, the app treats UK connections differently: in UK mode it hides outcome markets and shows a notice instead of the referral page, so a referral link does not show the code form from a UK connection and a code such as HOLYGRAIL is not applied (we read this in the app's code; we have not tested it from the UK). Second, the other venues split: Lighter and Aster exclude the UK by name, while edgeX's Terms do not mention it (table; see the edgeX review). Not being named is not FCA authorisation for any of them.

14. Can I use Hyperliquid in the EU?

No EU country is named in the Terms. Hyperliquid holds no licence or registration in any jurisdiction (§1.3), so it is not an authorised crypto-asset service provider in the EU and EU investor protections do not apply. Rules on leveraged derivatives for retail traders differ by member state; §1.9 leaves that check to you.

We checked ESMA's interim MiCA register (page last updated October 7, 2026) on October 15, 2026: none of the four is an authorised MiCA crypto-asset service provider, and none is on ESMA’s non-compliant list. None of the four venues names an EU country in its Terms, but Aster's prediction markets exclude Germany, France, Italy, Poland and Belgium.

15. Is Hyperliquid available in Australia?

Australia is not named in the Terms. We found no Australia-specific clause in them. Hyperliquid is not licensed in Australia, so local consumer and derivatives protections do not cover it, and §1.9 puts the duty to check local law on leveraged trading on you.

16. Is Hyperliquid available in Singapore?

Singapore is not named in the Terms. MAS listed Hyperliquid on its Investor Alert List on June 26, 2026. That list covers firms that may be wrongly perceived as licensed or authorised by MAS; it is a warning to investors, not a ban on users.

17. Can you use Hyperliquid in Japan?

Japan is not named in the Terms, so people living in Japan are not Restricted Persons. The same is true of Lighter, Aster and edgeX, and none of Hyperliquid, Lighter, Aster or edgeX is a registered crypto-asset exchange in Japan (register as of September 1, 2026). From a Japanese connection the app hides outcome markets but keeps perps trading on (checked October 15, 2026). Hyperliquid is not registered with Japan's FSA as a crypto-asset exchange; the Payment Services Act's registration duty and penalties fall on operators, and it has no provision penalising individual users. Domestic user protections do not apply, and tax is a separate question. Our Japanese guide covers FSA registration, the Payment Services Act and tax: ハイパーリキッドの利用できない国と日本の規制 and 日本から使える？.

18. Is Hyperliquid available in South Korea?

South Korea is not named in the Terms. Korea's Financial Intelligence Unit (FIU) requires foreign virtual asset service providers that do business in Korea to report, and judges that by a Korean-language website, marketing aimed at Koreans and KRW payment support. Hyperliquid is not among the reported providers and not on the FIU's list of 22 named unreported foreign exchanges. The app's language menu offers English, French, Simplified Chinese, Korean and Spanish (no Japanese), so it does have a Korean interface, and a Korean-language website is one of the FIU's three criteria; whether the criteria apply to a decentralized interface is unclear, and the FIU notes do not say. The practical limit is on the exchange side: Korean exchanges only send coins to travel-rule partner exchanges, verified accounts at a few foreign exchanges, or personal wallets you have registered with them. Korean readers: see 한국에서 써도 되나? and 해외 DEX 세금.

19. If you are eligible: getting started

If none of §1.6 applies to you and leveraged trading is lawful where you live, Hyperliquid is one of the largest on-chain perp exchanges by volume. The Hyperliquid review covers fees, safety and incidents; how to use Hyperliquid walks through deposit, first trade and withdrawal; and Hyperliquid fees lists the tiers. Entering a referral code before you trade gives 4% off fees on your first $25M of volume. See the HOLYGRAIL code explained.

Eligible, but Hyperliquid's fees, leverage or chain are not what you want? Our Hyperliquid alternatives guide compares the other venues by reason to switch. Each has its own restricted list, so check the availability table first.

20. FAQ

Disclosure: HOLYGRAIL is our Hyperliquid referral code; we earn a share of referred accounts' fees, and it never raises yours. We also hold referral codes for Lighter, Aster and edgeX, and have no referral relationship with Coinbase or Kraken. Terms quotes are verbatim from app.hyperliquid.xyz/terms (last updated June 15, 2026), read September 27, 2026 and re-read unchanged on October 6, 2026 and October 15, 2026; Lighter's, Aster's and edgeX's Terms, the CSA and OSC pages and ESMA's MiCA register were read on October 15, 2026, and the app's legalCheck behaviour comes from its published code and one check from Japan the same day; the OFAC, FCA, MAS, Coinbase and Kraken pages were read September 27, 2026, and the Korean FIU pages September 29 and October 4, 2026; news items are labelled with their source and date. This is not legal advice. If you are unsure whether you are a Restricted Person, ask a lawyer where you live.