Close Menu
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Categories
  • Altcoins (1,295)
  • Analysis (1,487)
  • Bitcoin (2,068)
  • Blockchain (1,198)
  • DeFi (1,415)
  • Ethereum (1,429)
  • Event (55)
  • Exclusive Deep Dive (1)
  • Landscape Ads (2)
  • Market (1,459)
  • Press Releases (1)
  • Reddit (719)
  • Regulation (1,360)
  • Security (1,959)
  • Thought Leadership (2)
  • Uncategorized (1)
  • Videos (41)
Hand picked
  • Announcement of the DevConnect Arg Scholars program
  • Michael Saylor shoots his shot for Rogan spot: ‘Let’s talk about Bitcoin’
  • Russia intensifies the desire to replace the US dollar in world trade
  • Former Executive of the Bank of China: Rise of Stablecoin poses a political challenge for China
  • Dow wins 214 points, the markets end more than high labor data facilitates pricing concerns
We are social
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Facebook X (Twitter) Instagram
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Altcoin ObserverAltcoin Observer
  • Regulation
  • Bitcoin
  • Altcoins
  • Market
  • Analysis
  • DeFi
  • Security
  • Ethereum
Events
Altcoin ObserverAltcoin Observer
Home»DeFi»Dry calls to remove the change in exchange rule
DeFi

Dry calls to remove the change in exchange rule

February 24, 2025No Comments3 Mins Read
Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
700x394 Signing.jpg
Share
Facebook Twitter LinkedIn Pinterest Email


The Blockchain Consensys software company submitted a letter to the American Securities and Exchange commission (SEC) urging the withdrawal of a proposed definition of definition which could classify the DEFI protocols in the context of the exchange of securities. The Blockchain Company based in the United States is opposed to this motion, citing concerns about regulatory surpassing and violations of American basic constitutional amendments.

Consensys warns dry: the proposed exchange rule violates American law

In a recent submission to the working group on the Crypto de la SEC led by Commissioner Hester Pierce, William C. Hughes, Senior Consensys lawyer has highlighted several reasons for the Commission to withdraw its proposed change to the definition of ” ‘Exchange “under the American law on securities.

First, Hughes explains that the change of rule proposed goes beyond what the American Congress wanted in the definition of an “exchange” under the EXCHANGE ACT SECURITIES of 1934 as a market for buyers and sellers of titles. Rather, these modifications aim to include platforms such as DEFI protocols whose tools are used passively by traders in negotiations and trade agreements.

In addition, the Executive of Consensys argues that the changes violate the Act to the Administrative Procedure (APA). Indeed, the SEC did not take into account the key points raised in the public commentary in 2022, which indicated that the decentralized protocols if they were classified as an exchange will probably not meet the operational requirements of the Commission. This indicates an unshakable predetermined objective of prohibiting these projects in the United States.

Another point raised by Hughes is that the proposed rules of rules also have no real advantage other than the extension of the regulatory authority of the dry. The lawyer and former DOJ officer explains that there was no sufficient cost analysis of these amendments which captured all of the blockchain projects which would be affected by the change of definition.

A declaration of the petition of consensys can be read as follows:

In the context of an initial question, the number of entities which would be affected by the modifications is considerably undercomputability: we are told that there would be only 35 to 46 new rules 3B-16 (a), between 15 and 20, whose digital assets negotiate. 88 Fed. Reg. At 29465, 29474. This number is far too low when, especially given the extensive but amorphous scope of modifications, when we are dealing with an ecosystem with hundreds, or even thousands of projects and protocols.

In addition to these points, the main advisor of the Conesnys also underlines that the modifications of the SEC are in direct violation of the first amendment because they aim to cover “badly” all the “communication protocols” between the parties having a commercial interest independently of ‘An affirmative verbal action. Hughes declares that the change of rule proposed does not manage to clarify terms such as “communication protocols”, and “the level of causality required for a group to be deemed to be” (gather) “of individuals with commercial interests ”, among other violation of the regular procedure concerning the fifth amendment.

Ansensys requests that the dry crypto working group examines these points and affects the immediate deletion of this change in definition of the regulatory agenda.

Presentation of the cryptography market

At the time of writing the editorial staff, the cryptography market is estimated at 3.11 billions of dollars reflecting a loss of 1.70% in the last day.

Consensys
The total cryptography market worth $ 3.11 billions on the daily graphic | Source: Total Total on tradingView.com

Freedom forum star image, tradingview graphic



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleThe Developer Ethereum thwarts the idea of ​​the Rollback blockchain in the middle of the piracy of Bybit
Next Article Pi Network Coin Lance Price Live updates: Pi Coin bounces 80% after day 1 crash – Check the last price here

Related Posts

DeFi

The Stablecoin USDT0 protocol extends Tether’s tokenized gold to telegram users, other channels

June 4, 2025
DeFi

Cryptographic hacks cost $ 302 million in May; Code defects and DEFI exploits dominate the losses

June 3, 2025
DeFi

Hyperliquidal rolls $ 244 billion on the rise in the upper league with Binance and OKX – DL News

June 3, 2025
Add A Comment
Leave A Reply Cancel Reply

Single Page Post
Share
  • Facebook
  • Twitter
  • Instagram
  • YouTube
Featured Content
Event

Kenya to Host Africa’s Leading Blockchain & Crypto Conference in June 2025 

May 30, 2025

Nairobi, Kenya – May 2025 — Africa’s rapidly evolving blockchain ecosystem will take center stage…

Event

Crypto Vision Conference 2025: A Breakthrough Day for Web3 in the Philippines

May 29, 2025

Makati City, Philippines — April 26, 2025 — The AIM Conference Center was a hub…

1 2 3 … 48 Next
  • Facebook
  • Twitter
  • Instagram
  • YouTube

Former Executive of the Bank of China: Rise of Stablecoin poses a political challenge for China

June 4, 2025

Tether moves 10,500 bitcoin to a new address, here is the reason

June 3, 2025

XRP payments on the chain run away 45% – bear signal or buying opportunity?

June 3, 2025
Facebook X (Twitter) Instagram LinkedIn
  • About us
  • Disclaimer
  • Terms of service
  • Privacy policy
  • Contact us
© 2025 Altcoin Observer. all rights reserved by Tech Team.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 105,517.27
ethereum
Ethereum (ETH) $ 2,637.35
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.25
bnb
BNB (BNB) $ 669.44
solana
Solana (SOL) $ 156.86
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.196091
tron
TRON (TRX) $ 0.268576
cardano
Cardano (ADA) $ 0.69641