Nonprofit blockchain advocacy group Coin Center has called the Securities and Exchange Commission’s (SEC) proposed redefinition of an “exchange” an “unconstitutional overreach.”
The lobby group made the comments in a written response to the SEC’s March 18 Amendments Regarding the Definition of “Exchange”, which details changing the meaning of “exchange” from a “system that brings together the orders” of a security to one that “brings together buyers and sellers.”The SEC’s proposed rule to change the definition of “exchange.”Comments from Coin Center on the SEC’s rule proposal regarding exchanges.
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Source: CoinTelegraph