Peirce warns crypto vaults and lending may fall under SEC rules
Commissioner urges against legal ‘gymnastics’ to avoid regulation
The outgoing commissioner of the US Securities and Exchange Commission (SEC) has warned crypto developers against trying to duck regulation by moving activity on to blockchains.
“If you do headstands, backflips, and other gymnastics to read the law so that it does not apply to crypto assets and activities that are well within the scope of the federal securities laws, you will have a painful fall,” Hester Peirce said in a statement on July 22.
“Moving activities that fall within the scope of the
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