All Republican members of the US House Financial Services Committee delivered a letter to the SEC on the 13th (local time) demanding that the US Securities and Exchange Commission (SEC) withdraw its recently proposed regulation related to the definition of 'exchange'.
In this regard, Republican lawmakers led by House Financial Services Committee Chairman Patrick McHenry said, "The SEC's 'exchange definition' rule can leak the digital asset (cryptocurrency) ecosystem abroad, which is an act that exceeds their 'legal' authority. It also goes against the SEC's mission of protecting investors and facilitating capital formation.The SEC's proposed rules will discourage innovation and adversely affect cryptocurrency market participants and the U.S. economy.
"SEC Chairman Gary Gensler pushed a personal view. "They are abusing the enactment to stick with it. At the same time, it's starkly revealing their hostility to technology that doesn't perfectly fit their rules."
Previously, the SEC proposed an exchange definition enactment, stating that 'a communication protocol-based system that gathers securities traders with interest and allows trading parties to agree on interactions is also an exchange', saying that the collection of opinions on exchange definition, which began in April, was closed. there is. In the industry, concerns have been raised that the regulation may include DeFi, such as decentralized exchanges (DEX), within the scope of regulation.
