Original sourcea16z cryptoAdditional: Crypto Times
Summary
a16z crypto and the DeFi Education Fund called on the SEC to establish a safe harbor for decentralized exchanges (DEXs), arguing that qualifying DEXs and DEX Apps should be presumed not to constitute exchange activity under the Securities Exchange Act, even for peer-to-peer trading of tokenized sec…
Key points
- For DeFi developers, this is a concrete checklist for judging whether their protocol could be deemed an exchange.
- If adopted, the safe harbor would for the first time provide predictable compliance boundaries for permissionless, automated DeFi trading infrastructure.
- DeFi teams can self-assess designs against the four criteria and seek clearer rules through the SEC comment process; intermediary platforms may be pushed toward the CTP registration path.
Editorial note
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