SEC aims to ease regulations on DeFi platforms, considering changes to agency rules to accommodate issuers and intermediaries in administering on-chain financial systems.
SEC Chairman Paul Atkins directs staff to consider an 'innovation exemption' framework to allow registrants and non-registrants to bring on-chain products and services to the market.
Republicans aim to ease pressure on DeFi developers, criticizing the Biden administration for undermining innovation in digital wallets and on-chain technologies through regulatory actions.
SEC Commissioner Hester Peirce emphasizes the importance of not infringing on First Amendment rights when regulating code publishers, while noting that centralized entities cannot evade regulation by claiming a DeFi label.