The United States, which has been on alert several times regarding decentralized finance DeFi, has officially announced that it will be included in the regulation.
The U.S. Securities and Exchange Commission (SEC) said, “We are pursuing a plan to include DeFi in the ‘virtual asset’ mentioned in the definition of ‘exchange’ in the rulemaking bill.” If this rulemaking is passed, the term DeFi will be directly specified on regulated exchanges. The rule enactment is carried out through voting, and through a meeting before the voting, we plan to discuss whether there is an intermediary in DeFi and what the services provided are in detail.
In his preparatory remarks, SEC Chairman Gary Gensler said, “DeFi should not be excluded from the application of securities laws,” and “since most virtual assets are securities, exchanges are already subject to regulation under securities laws.” He added that it does not matter whether it is decentralized or centralized.
In fact, the US has consistently been critical of DeFi. Recently, he said, “DeFi is being abused by hackers or North Korea to secure money and money laundering,” and “regulatory authorities alone can never solve it, so cooperation at the private level must be done in parallel.”
It is already an openly known fact that North Korea’s actions are a headache for the United States. North Korea has been hacking the virtual asset market as one of the means to escape financial difficulties for several years. North Korea’s hacking ability ranks third in the world, along with Russia and others.
It seems that they are starting to be conscious of the regulation of DeFi as they are fighting a war of nerves with exchanges here. US regulators said they “solicited a number of views and comments from various market participants on what would happen when regulations were applied to them.” According to CoinDesk, 400 comments have been received by the SEC so far on the proposed rulemaking, including lobbyists, industry self-regulators, the Bank of England and institutional investors.
On the other hand, it seems that Ethereum investors, who are soaring after the Chapela upgrade, are also nervous as the US Securities and Exchange Commission constantly hints that ‘most of the virtual assets are securities’. US regulators pointed out that “Ethereum’s coin mining method corresponds to unregistered securities.”
Ripple investors in the lawsuit are also nervous. A US lawyer pro-Ripple predicted, “If the US Securities and Exchange Commission wins against Ripple, it will show more aggressive regulatory moves.”
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