SEC Considers Regulatory Exemptions for DeFi Platforms

According to PANews, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins announced at a cryptocurrency roundtable that the SEC is developing an 'innovation exemption' policy for decentralized finance (DeFi) platforms. Atkins stated that he has instructed staff to explore rule modifications to provide regulatory exemptions for on-chain financial systems, allowing entities under SEC jurisdiction to swiftly launch on-chain products. Hester Peirce, head of the SEC's crypto task force, emphasized that publishers should not be held accountable for others' use of code, although centralized entities cannot evade regulation by merely adopting a 'decentralized' label. Currently, the SEC's Republican commissioners hold a 3:1 majority and are advocating for more crypto-friendly policies. Atkins noted that blockchain technology enables financial transactions without intermediaries, and the SEC should not hinder such innovation.