U.S. Securities and Exchange Chairman Gary Gensler has made it clear that he’s getting tough on crypto. And today the American regulator revealed he’s not leaving out the industry’s most complex space: DeFi. 

In a Friday announcement, the SEC said in a press release that it would revisit plans to change the definition of what is considered an exchange. This would include DeFi—or decentralized finance—protocols like decentralized exchanges. 

The announcement said that the body was revisiting a rule first proposed last year—but will contain language to target the digital asset world, too. 

“Make no mistake: many crypto trading platforms already come under the current definition of an exchange and thus have an existing duty to comply with the securities laws,” Gensler said in the Friday release. 

“Investors in the crypto markets must receive the same time-tested protections that the securities laws provide in all other markets.”

But the idea wasn’t received well by all regulators: SEC commissioner Hester Peirce said during a Friday meeting that the announcement “sends a message that we are uninterested in facilitating innovation and competition in the financial markets and instead

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Author: Mathew Di Salvo

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