[Wintermute: Traders Should Be Allowed to Settle On-Chain Directly, DeFi Proprietary Trading Should Not Require Registration] Odaily Planet Daily News – Crypto market maker Wintermute posted on the X platform, stating that it has conducted follow-up discussions with the U.S. Securities and Exchange Commission (SEC) cryptocurrency task force and proposed two key points: 1. Regulated traders should be authorized to establish their own tokenized securities clearing and settlement procedures without triggering the rules applicable to broker-dealers providing clearing services to clients. This would allow traders to settle directly on-chain with counterparties and adopt customized risk management standards. 2. Proprietary trading and liquidity provision on DeFi protocols should not trigger trader registration requirements. If a company is trading solely for its own account and does not interact with clients, such activity aligns with the long-standing 'trader exemption' provisions.