SEC Prepares to Increase Its Pressure on Cryptocurrencies! Here’s Gary Gensler’s Leaked Description!

US Securities and Exchange Commission (SEC) cryptocurrency shows its pressure on the industry at every opportunity.

According to The Block’s report, the SEC states that the rules applied to stock exchanges are mdecentralized finance (DeFi) will also vote for its implementation in their projects.

While the SEC is preparing to oversee the DeFi industry with this move, the SEC is expected to announce that the rules that exist for commodity exchanges in the US today also apply to DeFi.

SEC chairman Gary GenslerHe is expected to make the following statements at today’s meeting:

“Many cryptocurrency trading platforms already fall within the current definition of an exchange and therefore have to comply with securities laws.

Calling yourself a DeFi platform is not an excuse to defy securities laws.”

In Gensler’s speech, the vast majority of cryptocurrencies are securities and cryptocurrency Reiterating the belief that trading platforms already meet all the requirements to be considered a stock exchange, he said:

“These crypto platforms match orders from multiple buyers and sellers of crypto securities using built-in and non-optional methods. In fact, this is the very definition of exchange.

And most cryptocurrency trading platforms today do just that. Whether they call themselves centralized or decentralized, that’s what they do. At this point, they actually act as a stock exchange.”

Speaking to reporters ahead of today’s meeting, SEC officials said the agency did not intend to actually define DeFi but said they would consider how activities are taking place, including whether it has an intermediary and exactly what service this broker provides.

*Not investment advice.