SEC Commissioner Hester Peirce: Truly Decentralized DeFi Needs No Legal Exemption
- —Peirce: permissionless smart contracts for P2P trading require no legal exemption
- —SEC's Sept. 17 order grants temporary conditional relief for a Tokenized Securities Venue with AMM pools
- —April SEC staff statement has no legal force and expires five years after April 13, 2026
- —CFTC Staff Letter 26-25 lets passive software providers promote derivatives and charge fees without broker registration
Why it matters: US regulators are drawing the boundaries of decentralization through frontend control and operational powers, shaping compliance requirements for DeFi protocols.
Source: CryptoSlate
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