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Blockchain Association Pushes Back on Citadel's DeFi Regulatory Push, Backs SEC "Innovation Exemption" Approach

The Blockchain Association has filed a comment letter with the U.S. Securities and Exchange Commission (SEC) responding to Citadel's earlier call for tougher regulation of decentralized finance (DeFi), according to Odaily Planet Daily. In its submission, the group argued that DeFi protocol developers are neither brokers nor exchange operators and should not be regulated under frameworks built for traditional financial intermediaries. The association also urged the SEC to move forward with an "innovation exemption" mechanism that would establish a regulatory sandbox for onchain assets and tokenized securities. It warned that a full rulemaking process can take a long time, potentially slowing adoption and pushing innovation overseas. Citadel had previously recommended that the SEC tighten DeFi oversight through formal legislative procedures. (The Block)
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