SEC weighs new rulemaking for onchain market structures and software applications
The Block
SEC Chair Paul Atkins plans to modernize regulatory definitions to better accommodate the unique, automated nature of onchain financial software and market structures.Summary
SEC Chair Paul Atkins has signaled a shift toward new rulemaking to clarify how regulatory frameworks apply to modern onchain software applications. He argues that current classifications—such as brokers or clearing agencies—do not accurately reflect the automated, multifaceted nature of decentralized finance protocols. Atkins aims to move away from the rigid enforcement approach of the previous administration by utilizing notice and comment rulemaking to adapt legal definitions to current market realities, while potentially using exemptive authority to foster innovation.
(Source：The Block)