U.S. SEC Chairman says he is developing an “innovation exemption” policy for DeFi platforms

Planet Daily News: SEC Chairman Paul Atkins stated at a crypto roundtable that the SEC is developing an "innovation exemption" policy for DeFi platforms. Atkins said he has requested staff to study rule modifications to provide regulatory exemptions for on-chain financial systems, allowing SEC-regulated entities to quickly launch on-chain products. Hester Peirce, head of the SEC's crypto working group, emphasized that code publishers should not be held responsible for others' use of the code, but centralized entities cannot evade regulation through a "decentralized" label. Currently, Republican SEC commissioners have a 3:1 majority and are pushing for more crypto-friendly policies. Atkins noted that blockchain technology enables financial transactions without intermediaries, and the SEC should not hinder such innovation. (CoinDesk)