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The SEC's New Proposal to Redefine 'Dealer' Could Spell Bad News for DeFi

The 200-page proposal is ostensibly about the electronic trading of U.S. Treasurys – but many industry insiders smell a sneak attack against crypto.

Updated May 11, 2023, 5:12 p.m. Published Mar 28, 2022, 9:10 p.m.
SEC Chair Gensler Testifies Before Senate Banking Committee (Evelyn Hockstein-Pool/Getty Images)
SEC Chair Gensler Testifies Before Senate Banking Committee (Evelyn Hockstein-Pool/Getty Images)