In The Press February 08, 2022

Crypto Industry Prepares to Fight SEC Proposal for Exchanges (PoliticoPro)

Cryptocurrency proponents are raising alarms over a proposed SEC rule that could sweep popular trading platforms and decentralized finance protocols under the direct oversight of the agency. The proposal would require trading services that connect buyers and sellers of securities — known as communication protocol systems — to register with the SEC as exchanges or broker-dealers. They’d also have to register with Financial Industry Regulatory Authority (FINRA), an arduous process that many developers behind DeFi protocols and exchange platforms won’t be able to complete, Goodwin Digital Currency & Blockchain Technology partner Nicholas Losurdo said in an interview. Read the PoliticoPro article here.