JUST IN: The SECgov is looking to capture DeFi and other crypto entities in an amended proposal expanding how it oversees 'exchanges.' nikhileshde jesseahamilton report
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
“Calling yourself a DeFi platform is not an excuse to defy the securities laws,” he said in remarks prepared ahead of the meeting. In the prepared remarks, Gensler reiterated his view that “the vast majority of crypto tokens are securities” and that crypto trading platforms already meet existing requirements for securities exchanges.
The agency received almost 400 comment letters on this week’s revisited proposal and disclosed 35 staff meetings and calls with Wall Street lobbyists, industry self-regulatory organizations, the Bank of England and others regarding the effort. A reopened comment period would give crypto lawyers and lobbyists another 30 days to argue against the rule before the agency will review those responses and decide whether to approve a final rule.
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