
Hyperliquid Policy Center and Pyth Core Contributor Urge SEC to Scrap Rule 611 for Onchain Markets
The Hyperliquid Policy Center, in collaboration with Douro Labs, a core contributor to the Pyth Network, has submitted a joint comment letter to the U.S. Securities and Exchange Commission (SEC) advocating for the repeal of Rule 611. The groups are also urging the SEC to establish clear guidance tailored to onchain markets, arguing that the existing rule is ill-suited for the decentralized trading landscape. Why Rule 611 Is Under Fire Rule 611, part of Regulation NMS, was designed for traditional financial markets where exchanges aggregate quotes to determine the best available price. This framework, the groups argue, does not translate…







