Cryptocurrency Industry Groups Counter Citadel's Claims: 'DeFi is Not a Broker-Dealer'

The DeFi Education Fund, Andreessen Horowitz, the Chamber of Digital Commerce, and the Uniswap Foundation submitted a letter to the U.S. Securities and Exchange Commission (SEC) on the 12th, responding to the demands of financial giant Citadel Securities.

Citadel Securities, one of the world's largest market makers, had requested the SEC to regulate decentralized finance (DeFi) and related entities as traditional broker-dealers, particularly advocating for stricter rules on tokenized securities.

In response, the DeFi Education Fund and others argued against Citadel Securities' 'misinterpretation'...