If approved, the proposed SEC rule change will be available to public comment for 30 days upon being listed in the Federal Register
Hester Peirce, a commissioner for the U.S. Securities and Exchange Commission known by many in the space as Crypto Mom, is warning that a proposed rule from the agency could potentially affect the regulation of firms involved with decentralized finance.that the 654-page proposal recently released by the SEC to amend the definition of “exchange” as defined by the Securities Exchange Act of 1934 could impact the digital asset space.
“The proposal includes very expansive language, which, together with the chair’s apparent interest in regulating all things crypto, suggests that it could be used to regulate crypto platforms,” said Peirce. “The proposal could reach more types of trading mechanisms, including potentially DeFi protocols.”
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