Odaily Planet Daily reports: U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins said regulators are considering new rules for on-chain financial markets and related software applications.
Atkins points out that current software protocols such as DeFi are difficult to classify as exchanges, brokers, or clearinghouses under traditional regulatory frameworks, as a single protocol often combines multiple functions including trade execution, collateral management, liquidity routing, and settlement.
Its statement is seen as a more open stance by the SEC toward the crypto industry, friendlier than that of former chair Gary Gensler. Meanwhile, the SEC is also exploring innovative exemptions for tokenized securities and advancing the clarification of a digital asset classification framework.