{"id":402374,"date":"2022-02-02T00:35:00","date_gmt":"2022-02-01T21:35:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/secs-proposed-rule-on-exchanges-could-threaten-defi-says-crypto-mom\/"},"modified":"2022-02-02T00:35:00","modified_gmt":"2022-02-01T21:35:00","slug":"secs-proposed-rule-on-exchanges-could-threaten-defi-says-crypto-mom","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/secs-proposed-rule-on-exchanges-could-threaten-defi-says-crypto-mom\/","title":{"rendered":"# SEC’s proposed rule on exchanges could threaten DeFi, says Crypto Mom"},"content":{"rendered":"

“# SEC’s proposed rule on exchanges could threaten DeFi, says Crypto Mom <\/strong>”
\n<\/p>\n

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.<\/p>\n

According to a Tuesday Bloomberg report, Peirce said<\/a> that the 654-page proposal recently released by the SEC to amend the definition of \u201cexchange\u201d as defined by the Securities Exchange Act of 1934 could impact the digital asset space. The SEC commissioner reportedly opposed opening the proposal to public comment and said the text could impose additional regulations on decentralized finance, or DeFi, firms.<\/p>\n

\u201cThe proposal includes very expansive language, which, together with the chair\u2019s app<\/a>arent interest in regulating all things crypto, suggests that it could be used to regulate crypto platforms,\u201d said Peirce. \u201cThe proposal could reach more types of trading mechanisms, including potentially DeFi protocols.\u201d<\/p>\n

The text of the proposal does not include<\/a>\u00a0terms like \u201cdigital asset\u201d, \u201ccryptocurrency\u201d, or \u201cdecentralized finance\u201d, and seems to focus instead on \u201csystems that offer the use of non-firm trading interest and communication protocols to bring together buyers and sellers of securities.\u201d According to a Jan. 26 statement<\/a> from SEC chair Gary Gensler, the rule change would, if implemented, \u201cpromote resiliency and greater access in the Treasury market\u201d by expanding regulations to include Treasury markets platforms.<\/p>\n

Related: <\/em><\/strong>DeFi will provide good regulatory test for SEC, says Commissioner Peirce<\/em><\/strong><\/p>\n

Cointelegraph reported on Jan. 20 that under Gensler, SEC enforcement was \u201cnotably high\u201d between June and September 2021, shortly after his confirmation by the U.S. Senate. The SEC chair has previously referred to projects in the DeFi space as \u201chighly centralized\u201d in certain aspects, and thus subject to similar regulations as projects considered to be securities \u2014 purportedly to what Peirce was referring for Gensler’s “apparent interest in regulating all things crypto.”<\/p>\n

\n

Enforcement is one of the fundamental pillars in achieving the @SECgov<\/a>‘s mission.<\/p>\n

One pillar is the policy framework \u2014 the laws set by Congress, & the rules enacted by the Commission.<\/p>\n

But you’ve also got to examine against those laws & rules, & enforce those rules.<\/p>\n

\u2014 Gary Gensler (@GaryGensler) January 12, 2022<\/a><\/p><\/blockquote>\n