Decentralized platforms representing the DeFi market will have to register with the US Securities and Exchange Commission (SEC).
The regulator will issue licenses to exchanges allowing them to process transactions in digital assets that the SEC classifies as securities. The decision to strengthen control over the decentralized finance market was made at a meeting held at the end of last week, Bloomberg reports.
Back in January 2022, the SEC presented a plan for the phased legalization of DeFi protocols that accumulate large capitals. Each platform must obtain the status of a broker or exchange.
The head of the Securities and Exchange Commission, Gary Gensler, after taking office, announced the development of a regulatory framework for the digital currency market, which needs strict regulation.
Last week, he reiterated that the SEC would protect investors. Particular attention should be paid to increasing the transparency of platforms representing the DeFi industry.
“Cryptom Mom” Esther Pierce has expressed regret over the SEC’s decision to create a registry of decentralized exchanges.
The commissioner accused her colleagues of slowing down the development of the blockchain industry and hindering innovation.
