The Securities and Exchange Commission (SEC) has announced that it is reopening an old proposal surrounding consumer protection laws to explicitly put digital asset trading within its scope. 

In a written response to Gensler on Friday, Peirce objected to the latest amendments, stating that they serve to “embrace stagnation, force centralization, urge expatriation, and welcome extinction of new technology.”

Her statement also argued that applying existing rules to DeFi would create “confusing and unworkable standards” for network participants, including the miners and validators of the blockchains upholding its related protocols. Furthermore, she questions the ability of DeFi participants to satisfy exchange or broker-dealer registration requirements, or why such registrations make sense for DeFi at all.