Wintermute Engages with SEC on Cryptocurrency Regulations

According to Odaily, cryptocurrency market maker Wintermute has engaged with the U.S. Securities and Exchange Commission's (SEC) cryptocurrency task force, highlighting two significant points. Wintermute advocates for regulated traders to establish their own tokenized securities clearing and settlement procedures without triggering rules applicable to broker-dealers offering clearing services to clients. This would allow traders to settle directly on-chain with counterparties and implement customized risk management standards. Additionally, Wintermute argues that proprietary trading and liquidity provision on DeFi protocols should not necessitate trader registration. If a company trades solely for its own account without client interaction, this activity aligns with the longstanding 'trader exemption' provision.