The U.S. SEC officially repeals the harsh proposals regarding DeFi and custody put forward during the tenure of former Chairman Gary Gensler

2025-06-13 11:20:12

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ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission officially withdrew several proposed rules on Thursday that would impose stricter regulations on DeFi and cryptocurrency custody.

These proposals were made under the leadership of former Chairman Gary Gensler, who led the agency's "enforcement-oriented approach." The withdrawn proposals included a proposed amendment to Rule 3b-16 of the Exchange Act published in April 2023. This proposal aimed to broaden the definition of exchanges, specifically to include decentralized finance platforms under the regulation of national securities exchanges. The proposal faced criticism from various industry stakeholders.

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