{"id":1658,"date":"2022-02-04T12:39:13","date_gmt":"2022-02-04T12:39:13","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=1658"},"modified":"2022-02-04T12:39:14","modified_gmt":"2022-02-04T12:39:14","slug":"sec-commissioner-new-proposal-could-give-sec-expansive-power-to-regulate-crypto-defi-platforms","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=1658","title":{"rendered":"SEC Commissioner: New Proposal Could Give SEC Expansive Power to Regulate Crypto, Defi Platforms"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>A commissioner with the U.S. Securities and Exchange Commission (SEC) has voiced concerns regarding a new proposal that could give the securities regulator new powers to regulate cryptocurrency platforms and decentralized finance (defi) protocols.<br \/><\/strong><\/p>\n<h2>New SEC Proposal Could Hurt the Crypto Industry, Commissioner Peirce Cautions<\/h2>\n<p>U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has warned that a recent proposal could be devastating for the crypto industry, Bloomberg reported Tuesday. Peirce is a pro-bitcoin commissioner, who is also known in the crypto community as \u201ccrypto mom.\u201d<\/p>\n<p>The SEC proposed amendments to regulate \u201csignificant Treasury markets platforms\u201d within Regulation ATS last week. The 654-page proposal seeks to \u201cexpand Regulation ATS for alternative trading systems (ATS) that trade government securities, NMS [National Market System] stock, and other securities.\u201d It also proposes to \u201cextend Regulation SCI to ATSs that trade government securities\u201d and \u201camend the SEC rule regarding the definition of an \u2018exchange\u2019 to address a regulatory gap.\u201d<\/p>\n<p>Commissioner Peirce warned that while the proposal does not mention crypto, it could give officials sweeping new powers to scrutinize cryptocurrency platforms, including decentralized finance (defi) protocols. She told the publication:<\/p>\n<p>The proposal includes very expansive language, which, together with the chair\u2019s apparent interest in regulating all things crypto, suggests that it could be used to regulate crypto platforms.<\/p>\n<p>The pro-bitcoin commissioner stressed that \u201cThe proposal could reach more types of trading mechanisms, including potentially defi protocols.\u201d<\/p>\n<p>The securities watchdog claims that the proposal is meant to close a \u201cregulatory gap\u201d created by market participants using platforms that are not registered as exchanges or brokerages to trade all types of securities. SEC Chairman Gary Gensler said last week that it would \u201cpromote resiliency and greater access in the Treasury market.\u201d<\/p>\n<p>The proposal is now open for public comments. The SEC must hold another vote before the regulations become final.<\/p>\n<p>Gensler has been vocal about the need to regulate cryptocurrency and defi platforms. In December, he added a crypto adviser to his executive staff. In January, the SEC chairman said, \u201cIf the trading platforms don\u2019t come into the regulated space, it\u2019d be another year of the public being vulnerable.\u201d<\/p>\n<p>Tags in this story<\/p>\n<p>crypto exchanges, Crypto regulation, crypto trading platforms, cryptocurrency platforms, decentralized finance, DeFi, Defi protocols, Gary Gensler, regulation of crypto platforms, SEC, SEC Commissioner<\/p>\n<p><em><strong>Do you think the SEC should have more power to regulate crypto trading platforms and defi protocols? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/sec-commissioner-new-proposal-could-give-sec-expansive-power-to-regulate-crypto-defi-platforms\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A commissioner with the U.S. Securities and Exchange Commission (SEC) has voiced concerns regarding a new proposal that could give the securities regulator new powers to regulate cryptocurrency platforms and decentralized finance (defi) protocols. New SEC Proposal Could Hurt the Crypto Industry, Commissioner Peirce Cautions U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-1658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1658"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1658\/revisions"}],"predecessor-version":[{"id":1660,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1658\/revisions\/1660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/1659"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}