According to CoinDesk, Gurbir Grewal, director of the Enforcement Division of the U.S. Securities and Exchange Commission (SEC), said, “We don’t care about labels. We care about products, and labels are not important to us. Technology is important. DeFi offers neither decentralization nor decentralization. It's not a financial service, it's just pure [fraud]. We will expand our jurisdiction to the extent permitted by law."

Is this too lenient? #FUD