US SEC sees decentralised crypto platforms as exchanges, seeks public input

The US Securities and Exchange Commission (SEC) met to open public comment again on its proposal to expand the definition of an “exchange,” clarifying that its existing rules on exchanges also apply to decentralised cryptocurrency platforms.

The SEC voted 3-2 to take additional comments from the public after crypto firms criticised the plan as vague and aimed at roping in decentralised finance platforms, also known as DeFi platforms that would otherwise not be subject to the regulator’s oversight.