A new SEC rule that provides for stricter oversight of interactions with crypto assets and DeFi protocols.
The 247-page rule, adopted Tuesday, will apply to persons engaging in transactions involving crypto assets that meet the definition of securities or government securities, except those whose assets do not exceed $50 million, TheBlock reports.
"If a person's trading activities in cryptoasset securities, including products, structures, and activities involved in the so-called DeFi market, meet the definition of "as part of a regular course of business" as set forth in the final rules (i.e., the person engages in a regular pattern of buying and selling cryptoasset securities that has the effect of providing liquidity to other market participants as set forth in the qualitative standard), and no exemptions or exceptions apply, such person will be required to register as a dealer.
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