THELOGICALINDIAN - A abettor with the US Balance and Exchange Commission SEC has accurate apropos apropos a new angle that could accord the balance regulator new admiral to adapt cryptocurrency platforms and decentralized accounts defi protocols
New SEC Proposal Could Hurt the Crypto Industry, Commissioner Peirce Cautions
U.S. Securities and Exchange Commission (SEC) Abettor Hester Peirce has warned that a contempo angle could be adverse for the crypto industry, Bloomberg appear Tuesday. Peirce is a pro-bitcoin commissioner, who is additionally accepted in the crypto association as “crypto mom.”
The SEC proposed amendments to adapt “significant Treasury markets platforms” aural Regulation ATS aftermost week. The 654-page angle seeks to “expand Regulation ATS for another trading systems (ATS) that barter government securities, NMS [National Market System] stock, and added securities.” It additionally proposes to “extend Regulation SCI to ATSs that barter government securities” and “amend the SEC aphorism apropos the analogue of an ‘exchange’ to abode a authoritative gap.”
Commissioner Peirce warned that while the angle does not acknowledgment crypto, it could accord admiral across-the-board new admiral to analyze cryptocurrency platforms, including decentralized accounts (defi) protocols. She told the publication:
The pro-bitcoin abettor fatigued that “The angle could ability added types of trading mechanisms, including potentially defi protocols.”
The balance babysitter claims that the angle is meant to abutting a “regulatory gap” created by bazaar participants application platforms that are not registered as exchanges or brokerages to barter all types of securities. SEC Chairman Gary Gensler said aftermost anniversary that it would “promote resiliency and greater admission in the Treasury market.”
The angle is now accessible for accessible comments. The SEC charge authority addition vote afore the regulations become final.
Gensler has been articulate about the need to regulate cryptocurrency and defi platforms. In December, he added a crypto adviser to his executive staff. In January, the SEC administrator said, “If the trading platforms don’t appear into the adapted space, it’d be addition year of the accessible actuality vulnerable.”
Do you anticipate the SEC should accept added ability to adapt crypto trading platforms and defi protocols? Let us apperceive in the comments area below.
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