The Securities and Exchange Commission (SEC) in the United States has introduced a new definition for securities dealers, which also includes cryptocurrencies. The move is expected to have significant implications for the decentralized finance (DeFi) sector. Despite concerns raised by industry participants about the feasibility of complying with securities laws, the SEC has shown no willingness to accommodate the crypto industry. This is just one part of a larger regulatory approach by the SEC, which also includes proposed changes to the definition of exchanges and the requirement for crypto investment advisers to use “qualified custodians.” These measures are expected to be finalized by April, prompting further challenges from crypto businesses in court.
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The SEC Takes on Dealer Definitions
