The representative of the US Securities and Exchange Commission, Hester Peirce, reported in an interview with Cointelegraph that DeFi and Eth2 have set new challenges for the SEC.
The commissioner further mentioned that the DeFi sector has led to a number of unresolved legal issues, claiming that decentralized finance “has posed a challenge to the SEC in a manner similar to the ICO boom in 2017. What’s different here is that the pace of DeFi has been much faster. I also think that legal problems are more difficult to solve on the DeFi side.”
Meanwhile, Pierce recognizes that the regulations that concern the project may be outside the scope of the SEC and some of them may be linked to the securities laws.
In this sense, the managing director of Santander Bank and president of the Enterprise Ethereum Alliance, John Whelan, assured DeFi has the power to enable autonomous programmable digital values as a future projection.
However, this remains a long-term goal, as DeFi’s many offerings are closely tied to illiquid tokens used to fund blockchain projects.