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SEC Rroposal to Redefine "Exchange" could impact DeFi Industry and face increased Congressional Scrutiny

June 20 (Cointime) - The SEC is proposing a change to the definition of an "exchange," which could have a significant impact on the DeFi industry. The proposed rule aims to broaden the definition of a securities "exchange" to include digital asset industry participants that haven't been included before, potentially subjecting even unassociated individuals to securities regulation. The SEC's initiative has raised concerns about regulatory overreach, and crypto advocates must closely monitor and hold them accountable if their efforts are not based in law and commonsense. The proposed crypto regulation has caught the attention of Congress, providing an opportunity for advocates to make their case and raise concerns about potential regulatory overreach. The opinions expressed in Fortune.com commentary pieces are solely those of the authors and do not necessarily reflect the views of Fortune on various topics.

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