SEC Weighs New Rulebook for Onchain Markets, Eyes Framework for Software-Based Trading Systems

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins said regulators are evaluating new rules for onchain financial markets and the software applications that support them, according to ME News. Speaking on May 9 (UTC+8), Atkins said existing software protocols such as DeFi are hard to fit into traditional categories like exchanges, brokers, or clearinghouses because a single protocol often bundles multiple functions, including trade execution, collateral management, liquidity routing and settlement. The comments are being read as a sign of a more receptive SEC posture toward the crypto industry than that of former Chair Gary Gensler. The agency is also considering innovative exemptions for tokenized securities and working to further clarify a digital-asset classification framework. (Source: ODAILY)