📰 [Crypto groups jointly request the SEC to establish rules for DeFi]

BlockBeats news, April 24th, the DeFi Education Fund, together with the Digital Chamber of Commerce and several other crypto advocacy organizations, officially sent a joint letter to the U.S. Securities and Exchange Commission (SEC), requesting the initiation of a formal DeFi rulemaking process based on recent statements. Previously, the SEC’s Market and Trading Department had explicitly stated that certain software user interfaces used for trading cryptocurrencies do not need to register as broker-dealers, giving a green light for such activities. The joint letter urges the SEC to solidify these principles into an objective, clear framework through an announcement or comment-based rulemaking, clarifying which activities fall under the definition of “broker,” and also to include infrastructure services such as validators, API and RPC providers, oracles, and cloud services...
A group of crypto organizations are begging the SEC to quickly set rules for DeFi. These people are so naive, thinking that the rules they ask for will be a shield of protection? The iron fist of U.S. regulation has never been soft-hearted. They want a “clear framework,” but in reality, they are tying themselves in knots. Once the SEC truly includes validators and API providers in the “broker” definition, those crying for rules now will be the first to be crushed by compliance costs. The market wants decentralization, not to keep begging regulatory daddy to draw circles. $AAVE $UNI