SEC Chairman: Developing "Innovation Exemptions" Policy for DeFi Platforms
ChainCatcher news, according to CoinDesk, SEC Chairman Paul Atkins stated at a crypto roundtable that the SEC is developing an "innovation exemption" policy for DeFi platforms. Atkins mentioned that he has asked staff to explore rule modifications to provide regulatory exemptions for on-chain financial systems, allowing entities under SEC jurisdiction to quickly launch on-chain products.
SEC crypto working group leader Hester Peirce emphasized that publishers should not be held liable for the use of code by others, but centralized entities cannot evade regulation by labeling themselves as "decentralized." Currently, SEC Republican commissioners hold a 3:1 majority and are pushing for more crypto-friendly policies. Atkins stated that blockchain technology enables financial transactions without intermediaries, and the SEC should not hinder this innovation.