SEC reopens proposal broadening 'exchange' definition
The SEC reopened comment on its proposal to expand the regulatory definition of an exchange, including systems using communication protocols to bring together buyers and sellers. The proposal was broader than Bitcoin, but it mattered to digital-asset market infrastructure because its scope could reach novel trading arrangements that did not resemble traditional exchanges.
The SEC reopened comment on its proposal to expand the regulatory definition of an exchange, including systems using communication protocols to bring together buyers and sellers. The proposal was broader than Bitcoin, but it mattered to digital-asset market infrastructure because its scope could reach novel trading arrangements that did not resemble traditional exchanges.
The Bitcoin connection ran through peripheral to Bitcoin. Bitcoin connection indirect and the proposal's main target was broader DeFi/communications systems.