Apr. 15, 2023
April 15, 2023 The recent move by the US SEC to redefine the term \"exchanges\" in order to police decentralized finance platforms is deeply concerning. This decision not only violates the first amendment rights of individuals who wish to participate in decentralized finance dveloppement, but also stifles innovation in the industry. By attempting to fit a square peg (decentralized finance) into a round hole (SEC governance), the SEC risks undermining the very principles that make decentralized finance attractive to so many people. Furthermore, it is important to note that the majority of the public prefers a more libertarian approach to regulation in order to allow for greater innovation and growth. Most people are not asking for SEC protection because they understand that such protection often leads to unintended consequences and externalities that ultimately do more harm than good. In order to promote innovation and growth in decentralized finance, it is crucial that the SEC takes a more hands-off approach and allows the industry to develop organically. By doing so, the SEC can ensure that decentralized finance remains a vibrant and innovative industry that benefits everyone, rather than stifling its growth through heavy-handed regulation.