The SEC chief has a point: DeFi is often not as decentralized as its proponents like to claim.
DeFi projects that reward participants with incentives or digital tokens could be subject to SEC regulation, the SEC chairman said.
The two congressmen wrote that rather than potentially regulating innovation and job creation out of the U.S., lawmakers and regulators should “promote an active dialogue between regulators and market participants.”
Congress should focus on trading, lending and decentralized finance, the securities regulator said.
Gensler wants to follow in his predecessor's footsteps and treat the crypto industry as something to stifle rather than support.
The SEC chief's speech this week on crypto regulation proved that hopes for a change of policy at the regulator may have been wishful thinking.
The SEC chairman's comments this week are causing issuers to readjust their expectations for the approval of a spot bitcoin ETF.
Quintenz's comment follows remarks by SEC Chairman Gary Gensler, who this week reiterated his view that stock and "stable value tokens backed by securities" qualify as securities.
Bitcoiners were quite receptive to the new SEC chair’s sweeping statement of purpose on crypto regulation. Others, predictably, were not.
The SEC chair spoke of the agency's desire to "stitch together" consumer protection for tokens sold as securities and tokens sold as commodities.
Gensler said he believes crypto trading platforms might already have securities listed.
Gensler did not comment on the potential approval of a crypto exchange-traded fund.
The software development studio cited an "evolving regulatory landscape" in making its decision.
Stock tokens and stablecoins backed by securities might be treated as securities under U.S. law, SEC Chair Gary Gensler said.
The Democrat senator said in a letter to SEC Chair Gary Gensler that she needs answers by July 28.