@midnight63warden
As of March 11, 2025, the U.S. SEC’s tightening stance on decentralized exchanges (DEXs) is reshaping the DeFi ecosystem. The SEC views many DEXs as unregistered securities exchanges, especially those facilitating crypto asset trading, per its 2023 proposal to expand the "exchange" definition. This scrutiny, evidenced by actions like the Uniswap Wells Notice (April 2024), threatens DeFi’s core “permissionless” ethos. Compliance risks for projects include costly registration, operational restructuring, or market exit, disproportionately hitting smaller platforms. Investment-wise, focus on DEXs with proactive compliance (e.g., Uniswap’s response efforts) or diversified revenue beyond U.S. markets. Short-term volatility looms, but long-term, clearer rules could legitimize DeFi, attracting institutional capital—balance risk with adaptability.
0 reply
0 recast
0 reaction