Gate News message, April 7, the Blockchain Association submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), responding to Citadel’s earlier claims about strengthening DeFi regulation. The Blockchain Association said that DeFi protocol developers are not brokers or exchange operators and should not be included in a regulatory framework designed for traditional financial intermediaries. The organization urged the SEC to advance an “innovation exemption” mechanism to provide regulatory sandbox space for on-chain assets and tokenized securities, and noted that a comprehensive rulemaking process takes longer, which could delay technological implementation and prompt innovation to move elsewhere. Previously, Citadel had suggested that the SEC strengthen DeFi oversight through a formal legislative process.
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