First in The Vault: A collection of groups representing the decentralized finance sector sent a fiery letter to the Securities and Exchange Commission this morning that urged the agency to ignore high-profile comments from Citadel Securities.
Earlier in December, Citadel asked the SEC to use a broad definition of “intermediary” as the agency designs the regulatory framework for trading tokenized securities, including “so-called ‘decentralized’ trading protocols.”
But prominent DeFi backers, including the DeFi Education Fund, a16z and the Digital Chamber, swung back today, telling the SEC that Citadel’s letter mischaracterizes their sector’s policy positions and “baselessly encourages the SEC to regulate decentralized finance” like “traditional SEC-registered intermediaries.”
