The U.S. Securities and Exchange Commission reopened a proposal from last year that would now require the registration of cryptocurrency exchanges and decentralized finance (DeFi) platforms, according to a Friday release. Coinbase Global ( COIN ) and other crypto-exposed firms had criticized the ambiguity of the regulator's original proposal as it did not mention crypto, but sought to expand the definition of the word "exchange" to capture a bigger portion of U.S. trading activity. The amended plan makes plain that crypto asset securities trading is covered. “Make no mistake: many crypto trading platforms already come under the current definition of an exchange and thus have an existing duty to comply with the securities laws,” SEC Chair Gary Gensler said in a statement. “Investors in the crypto markets must receive the same time-tested protections that the securities laws provide in all other markets.” The SEC will take comment from the public for 30 days after the reopening notice is published in the Federal Register, it said . More on the Crypto Clampdown G-7 said to promote tougher crypto rules amid global banking drama SEC warns of ‘significant’ risk of loss for crypto investors Ex-Terraform Labs CEO Do Kwon arrested in Montenegro after months in hiding Coinbase Wells Notice: What Is At ‘Stake’
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