Key Takeaways:
Over 30 crypto industry participants urged SEC to formalize DeFi guidance. Regulatory ambiguity around SEC broker rules threatens blockchain innovation. Commissioner Hester Peirce backed rulemaking to align SEC policy with DeFi. Crypto Industry Participants Press SEC to Formalize DeFi Guidance“We therefore respectfully urge the Commission to build upon the Statement through notice-and-comment rulemaking.”
“Specifically, the Commission should consider adopting a principles-based framework that provides clear, objective criteria for when activity falls within the definition of ‘broker,’ iterating on the criteria in the Statement,” the letter added.
Formal Broker Framework Seen as Key to DeFi ExpansionThe letter closed with a forward-looking appeal for a more stable, technology-neutral approach. The coalition wrote:
“We are hopeful that formalizing the principles in the Statement into a durable, technology-neutral regulatory framework would provide lasting clarity and reinforce the approach outlined by the Staff, and we look forward to providing additional, detailed commentary in the future.”
