HPC Urges SEC to Allow On-Chain Prices for Best Execution

The Hyperliquid Policy Center (HPC) has submitted a joint proposal to the Securities and Exchange Commission (SEC), urging them to allow on-chain prices for best execution in specific markets.

The proposal focuses on U.S. brokers using independent onchain pricing benchmarks when traditional stock-market pricing standards do not apply, citing Pyth's on-chain price feeds as an example.

HPC argues that transparent and manipulation-resistant reference prices could provide an alternative to the National Best Bid and Offer (NBBO) framework in markets where it cannot be used.