DeFi Education Fund and a16z Call on the SEC to Create a Regulatory Safe Harbor for Blockchain Applications

ChainCatcher news, the DeFi Education Fund and Andreessen Horowitz (a16z) submitted a proposal to the U.S. Securities and Exchange Commission (SEC), calling for the creation of a regulatory safe harbor for blockchain applications to clarify the applicability of rules as brokers.

The proposal mentions that applications meeting the safe harbor criteria must be non-custodial, not provide advice or exercise trading decisions, and the underlying protocols must be decentralized. This move aims to provide developers with the necessary regulatory clarity while ensuring that the SEC can continue to oversee high-risk activities.

Previously, the SEC had investigated blockchain applications such as Uniswap, Coinbase Wallet, and OpenSea, but some cases have been dismissed.