SEC Commissioner ) Hester Pierce warned that her office has developed new rules to oversee the trading of securities that could harm DeFi in the future.
SEC Commissioner Hester Pierce, who is sympathetic to cryptocurrencies, expressed her concerns about the strategy for transforming trading in the stock market developed in her department. In her opinion, the practices that the SEC is going to apply to the securities market can harm decentralized financial systems.
Pierce clarified that the new guidance is aimed at forcing unlicensed cryptocurrency exchanges to register as “ communication protocol systems” .
The proposal includes very broad language which, together with the chairman’s apparent interest in “regulating everything related to cryptocurrencies”, suggests that it can be used to regulate crypto platforms as well.
She added that the plans could cover many more types of trading mechanisms, potentially including regulation of DeFi protocols.
Last year, the head of the SEC and US Exchange Commissioner (SEC), Gary Gensler said that the agency has the ability to oversee the DeFi market. He noted that it is not entirely correct to call these protocols decentralized. In his opinion, if in some aspects they are truly decentralized, then in others they are highly centralized.