Apr. 15, 2023
The Securities and Exchange Commission reopened the comment period for the January 2022 proposal to amend the definition of “exchange” under Rule 3b-16 under the Securities Exchange Act of 1934. The reopening release reiterated the applicability of existing rules to platforms that trade crypto asset securities, including so-called “DeFi” systems, and provides supplemental information and economic analysis for systems that would be included in the new, proposed exchange definition. The reopening release also requested information and public comment on crypto asset securities trading on such systems