Stealth rulemaking: Is proposed SEC rule with no mention of crypto a threat t...

Stealth rulemaking: Is proposed SEC rule with no mention of crypto a threat t...

A 600-page document proposes changes to the definition of an exchange that could extend to include DeFi protocols. On Jan. 26, the United States Securities and Exchange Commission proposed amendments to Rule 3b-16 under the Exchange Act that lacks any mention of digital assets or decentralized finance, which could adversely affect platforms that facilitate crypto transactions. Some cryptocurrency advocates — including SEC Commissioner Hester Peirce — believe that the commission’s extended definition of an exchange could thrust an entire class of crypto entities under the regulator’s....


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