SEC Extends Oversight To Crypto And DeFi, Commissioner Pierce Disapproves
Summary
The SEC has implemented new rules requiring registration for "dealers" and "government securities dealers" in the crypto and DeFi sectors. SEC Chair Gensler supports the rules, but Commissioner Pierce opposes them, arguing they could stifle competition and impose unnecessary regulatory burdens. Pierce calls for revised regulations, citing existing surveillance mechanisms and implementation challenges. She requests a more predictable process and stakeholder feedback for a revised version of the rule.
