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SEC’s Proposed Rule Change Could Impact DeFi Platforms and Decentralized Exchanges

The SEC has suggested a rule change that would broaden the definition of exchanges to include platforms trading crypto asset securities and some DeFi platforms. However, the proposal has not received positive feedback during the comment period, with concerns raised about the potential impact on decentralized exchanges (DEXs).

The DeFi Education Fund (DEF) argued that the proposal fails to identify alternative regulatory approaches and does not offer a complete cost-benefit analysis. Paradigm also criticized the SEC's approach, stating that it would be forcing a "Hobson's choice" if it proceeds to regulate DEXs. The comment period ends on June 13.

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