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SEC Removes DeFi Regulations that Hinder in the Gensler Era
The Securities and Exchange Commission (SEC) revoked several regulations that were in place during Gary Gensler's leadership, one of which is Exchange Act 3b-16, related to the definition and enforcement of DeFi under exchanges.
In addition, SEC Chairman Paul Atkins expressed his support for DeFi, which will establish strict regulations including the storage of crypto assets.
"SEC announced it will no longer pursue amendments that would redefine the securities exchange rules to include DeFi platforms," the SEC wrote on its official website.
Previously, Gensler's era regulations forced DeFi platforms to register with the SEC under the same framework used for centralized trading venues.