Old-School Rules Apply to New-School DeFi Exchanges

Old-School Rules Apply to New-School DeFi Exchanges

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2023-04-22

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Summary：WASHINGTON—Backers of so-called decentralized finance say their peer-to-peer cryptocurrency platforms eliminate both human intermediaries and the need for government oversight. Decentralized finance, or DeFi, platforms should already be following rules for stock exchanges, the Securities and Exchange Commission said last week in a 166-page supplement to an earlier rule proposal. DeFi platforms use algorithms known as smart contracts to match buyers and sellers of crypto tokens.

WASHINGTON—Backers of so-called decentralized finance say their peer-to-peer cryptocurrency platforms eliminate both human intermediaries and the need for government oversight. Decentralized finance, or DeFi, platforms should already be following rules for stock exchanges, the Securities and Exchange Commission said last week in a 166-page supplement to an earlier rule proposal. DeFi platforms use algorithms known as smart contracts to match buyers and sellers of crypto tokens.

TAG： decentralized finance buyers and sellers SEC

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