"SEC Expands Oversight to Include DeFi and High-Speed Traders in Treasury Market Overhaul"

The U.S. SEC has expanded its dealer rule to encompass a wider range of financial activities, including those involving crypto securities, with the new framework set to take effect in April next year. This move could have significant implications for the digital assets industry, particularly in decentralized finance (DeFi), as it requires dealers to register with the SEC and comply with securities laws. The expansion has drawn objections from industry insiders, including those in DeFi, who argue that the new rules are impractical and hostile to innovation. The crypto industry has been engaged in legal battles with the SEC over the classification of cryptocurrencies as securities, and the outcome could have far-reaching effects on which firms are considered dealers under the new regulatory requirements.