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@ Layer3.news
2025-02-23 07:02:57
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CONSENSYS PUSHES BACK, CALLS FOR SEC TO DROP DEFI EXCHANGE RULE CHANGE
https://www.tradingview.com/x/DFKPGXEF/
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✍️ Consensys, a blockchain software company, has urged the US Securities and Exchange Commission (SEC) to withdraw a proposed definition amendment that could classify DeFi protocols as part of securities exchanges.
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👉 The proposed rule change goes beyond what the US Congress intended in defining an 'exchange' under the Securities Exchange Act of 1934.
👉 The amendments violate the Administrative Procedure Act (APA) by failing to consider key points raised in public comments.
👉 The proposed rule changes present no single real-world benefit other than extending the regulatory authority of the SEC.
👉 The amendments are in direct violation of the First Amendment as they aim to 'improperly' cover all 'communication protocols' between parties with a trading interest.
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#WilliamC.Hughes #HesterPierce #technology
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