The SEC today altered a proposed rule in order to target DeFi platforms such as decentralized exchanges, but not every Commissioner agrees.
Highlights
- U.S.
- Securities and Exchange Chairman Gary Gensler has made it clear that he’s getting tough on crypto.
- Today the SEC announced plans to change the definition of what is considered an exchange.
- This would include DeFi—or decentralized finance—protocols like decentralized exchanges.
- The DeFi world has been in the crosshairs of regulators and lawmakers for some time now.
- But the idea wasn’t received well by all regulators: Commissioner Hester Peirce said the idea “sends a message that we are uninterested in facilitating innovation and competition in the financial markets and instead seek to protect incumbents”
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