Hyperliquid Policy Center and Pyth core contributor team Douro Labs have jointly submitted a comment letter to the SEC, supporting the repeal of Rule 611 'Order Protection Rule' under Regulation NMS. HPC believes that this rule, designed based on traditional centralized quoting and the NBBO system, is difficult to adapt to AMMs, on-chain order books, and the 24/7 trading environment. After the repeal, the SEC should further clarify how brokers can fulfill best execution obligations in on-chain markets and allow the use of transparent, manipulation-resistant independent reference prices, such as Pyth's on-chain price feeds, when NBBO is not applicable. HPC also recommends that tokenized U.S. equities should continue to be included under the Reg NMS and best execution framework. https://(wublock123.com)/news/hyperliquid-policy-center-supports-sec-repeal-rule-611-onchain-best-execution-66663