SEC targets DeFi in vote to revisit proposal concerning the definition of ‘exchange’

The United States Securities and Exchange Commission has announced it will be revisiting the proposed redefinition of an “exchange” under the agency’s rules — a move that could include crypto market participants in decentralized finance, or DeFi.

In an April 14 open meeting with SEC commissioners and staff, SEC Chair Gary Gensler

Following the meeting, the SEC reiterated that DeFi projects fall under the commission’s current rules. The U.S. Treasury Department also targeted DeFi services in an April 6 warning regarding money laundering and terrorist financing. 

The public comment period for the proposed amendment will be open for 30 following publication in the Federal Register.

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