The U.S. Securities and Exchange Commission (SEC) expanded the definition of dealer to expand its jurisdiction.
The decisions taken by the SEC regarding dealers also cover cryptocurrencies, which are considered securities like other securities.
In the decision taken, “The Commission does not exclude certain securities, particularly crypto asset securities, from the scope of the final rules.” It was said.
SEC Chairman Gary Gensler ““In the absence of an exemption or exception, anyone who engages in transactions consistent with the actual market structure must register with us as a dealer for the purposes of Congress.” made the statement.
Rules that will come into force next year: Working in the field of decentralized finance (DeFi) It also includes individuals. People who make transactions on blockchain protocols using smart contracts can also be considered dealers.
DeFi Education Fund criticized the decision taken by the SEC, “To people in the DeFi ecosystem impose obligations that cannot be legally complied withis wrong and anti-innovation.” said.