Hyperliquid and Douro Labs Urge SEC to Abolish Rule 611 for On-Chain Markets

Hyperliquid Policy Center and Douro Labs petition the SEC to repeal Rule 611 transparency mandates, arguing removal will foster DeFi innovation and reshape market dynamics.

Woofun AI reports that the Hyperliquid Policy Center and Douro Labs have jointly urged the Securities and Exchange Commission to abolish Rule 611, a transaction transparency requirement applicable to on-chain markets. Originating from the National Market System securities regulations, the rule mandates that order execution quality must not be inferior to publicly available quotes. The organizations argue that repealing this provision will reshape market dynamics, foster innovation in decentralized finance, and challenge traditional regulatory frameworks.