Hester Peirce Warns Proposed SEC Reform of Securities Trading Platforms Could Threaten DeFi

Hester Peirce Warns Proposed SEC Reform of Securities Trading Platforms Could Threaten DeFi
U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has warned that plans by the agency to reform government securities trading could threaten decentralized finance (DeFi).Affectionately referred to as “Crypto Mom” for her longstanding support for the industry, Peirce believes a new SEC 654-page plan designed to add oversight to trading government securities could also allow new powers to scrutinize DeFi platforms.The new rules proposed by the SEC are designed to force platforms not registered as exchanges that still deal in the trading of all types of securities to register as “communication protocol systems.”“The proposal includes very expansive language, which,…