The SEC announced in a statement today that it will further increase scrutiny on decentralized exchanges (DEX).
The SEC’s pressure on the cryptocurrency market continues to increase day by day. Making a statement as a recent development, the SEC announced that surveillance on DEXs will increase.
SEC Turns Its Eyes On Decentralized Exchanges This Time
The U.S. Securities and Exchange Commission (SEC) is preparing to step up its scrutiny of the regulations of decentralized finance projects. In a vote held today, the SEC announced that the rules governing US stock exchanges may also apply to decentralized finance projects. This move has been interpreted as wanting to increase its role as a market regulator in the field of decentralized digital asset trading.
While this step of the SEC caused the reaction of some members, Chairman Gary Gensler made statements.
SEC Chairman Gensler said:
“Make no mistake: many crypto trading platforms already fall within the current definition of an exchange. It therefore has a current duty to comply with securities laws.”
The SEC’s announcement sparked a backlash from Republican members. Some members expressed concern that the regulatory body did not allow for constructive innovation and that the regulatory framework was expanded.
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