There seems to be no corner of crypto -- not even DeFi -- that GaryGensler and the SECGov think is a no-go for securities rules. Holdout Commissioner HesterPeirce suggests the SEC seems willing to kill off crypto firms. jesseahamilton takes a look
of what makes a securities exchange is the latest move to formalize what Chairman Gary Gensler has been saying: Crypto belongs in the securities world and will be regulated that way.
“We see this new technology, and we're not willing to make any adjustments to accommodate it,” SEC Commissioner Hester Peirce said Monday on CoinDesk TV, further detailing her criticism of the move last week that she opposed. “If you don't look exactly like incumbent firms, then we're just going to be fine with killing you off or driving you offshore or forcing you to turn yourself into a centralized entity.
"The SEC is simply seeking to ban DeFi protocols in America," said Jason Gottlieb, a lawyer who handles crypto clients at Morrison Cohen in New York."In doing so, the SEC is substituting its own opinions for Congress's prerogative on a major question, central to the future of the American economy."
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