Cryptocurrency Hester Peirce, a member of the US Securities and Exchange Commission (SEC), who has come to the fore with his support of the sector, warned that the SEC’s plans for securities trading platforms could be a threat to DeFi platforms.
Hester Peirce said the new 654-page proposal by the SEC for securities trading platforms could give authorities comprehensive new powers to scrutinize digital asset platforms.
Peirce, nicknamed Crypto Mom, “The new rules proposed by the SEC are designed to force platforms that are not registered as exchanges and currently trade all types of securities to register with the SEC to protect investors.” said.
Peirce also noted that the new plan is potentially DeFi He added that it will have access to more trading mechanisms, including protocols.
Peirce said that he opposes the presentation of the said new regulation to the public, and that three members, including SEC Chairman Gary Gensler, voted to present it to the public.
Gary Gensler Urges DeFi Platforms to Register with the SEC!
Growing in popularity over the past year DeFi The platform has drawn backlash from regulators for allowing users to trade, borrow and lend digital assets without a middleman.
In this context, SEC Chairman Gary Gensler has repeatedly stated in his previous statements that DeFi platforms also tend to be increasingly centralized, saying that they are not exempt from regulatory oversight and supervision.
Gensler is also urging the entrepreneurs behind DeFi platforms to register with the SEC.