SEC Adopts New Rules to Extend Oversight to Crypto and DeFi, Sparking Debate in Industry
The SEC has voted to adopt new rules that extend federal securities laws to cover the cryptocurrency and DeFi sectors, with an exemption for those with assets less than $50 million. The rules require individuals and entities engaged in transactions involving crypto assets that meet the definition of securities or government securities to comply with federal securities laws, and target market participants who engage in trading activities as part of a regular business. The adoption of these rules is part of a broader regulatory push to bring greater clarity and oversight to the cryptocurrency industry, but has sparked debate within the crypto community regarding the inclusion of DeFi. Despite industry objections, the SEC proceeded with the adoption of the rules, with Chairman Gary Gensler noting that they are "common sense" measures to protect investors and promote market integrity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Market Idles in Likely Calm Before Election Day, FOMC Storm
Tether’s USDT Sees Increased Popularity in Sanctioned Nations
Could Ethereum Follow Amazon’s Path to Dominance?
Bitcoin Could Become a Global Financial Powergouse, According to Craig Wright’s Latest Plan