The Securities and Exchange Commission (SEC) generated more news on the already hot topic of decentralized finance (DeFi) Aug. 6 with the announcement of its first enforcement action against a DeFi enterprise. Closely following the July 20–22 initiation of three states’ securities enforcement actions against another DeFi company, the SEC’s action clarifies its position on whether crypto tokens issued using DeFi are securities, but questions remain on how the SEC and other regulators will approach other regulatory issues for DeFi.
The SEC’s action penalized two Florida men and their Cayman Islands company, Blockchain Credit Partners, a total of more than ...
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