Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), believes that his department may well regulate decentralized finance (DeFi) projects.
In an interview with the Wall Street Journal, Gensler said that if decentralized projects offer users valuable tokens or something similar as a reward, such activities are well suited to the regulation of the SEC. And, stressed the head of the Commission, it does not matter how “decentralized” the project is.
“There is a significant group of developers, they do not just write software, but offer various commissions and revenues in tokens, project management with tokens. It turns out that there is a certain structure for promoting and sponsoring the project, ”said the SEC chairman.
Gensler also expressed the opinion that the term DeFi itself is “somewhat erroneous.” Most of the projects of decentralized finance can be called decentralized only in part. In many respects, these are highly centralized structures.
The head of the SEC noted that some DeFi projects are very similar to peer-to-peer lending platforms. And such platforms are subject to regulation.
Earlier this month, Gary Gensler announced the need to tighten control over cryptocurrencies, especially over the DeFi industry, to protect investor interests.
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