U.S. SEC Chairman says he is developing an “innovation exemption” policy for DeFi platforms

Odaily News Paul Atkins, chairman of the U.S. Securities and Exchange Commission, said at a crypto roundtable that the SEC is developing an "innovation exemption" policy for DeFi platforms. Atkins said he has asked staff to study rule changes to provide regulatory exemptions for on-chain financial systems, allowing entities under SEC jurisdiction to quickly launch on-chain products.
Hester Peirce, head of the SEC's cryptographic working group, stressed that publishers should not be held accountable for the use of code by others, but centralized entities cannot evade regulation by using the "decentralized" label. Currently, the SEC's Republican committee members hold a 3:1 majority and are pushing for friendlier crypto policies. Atkins said that blockchain technology has realized the function of financial transactions without intermediaries, and the SEC should not hinder this innovation. (CoinDesk)