Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.
In an interview with Cointelegraph, Ripple’s president stated that 2024 could be the year of DeFi regulations. Meanwhile, the United States Securities and Exchange Commission (SEC) has introduced a new definition for a “dealer” and “government securities dealer,” targeting liquidity providers in DeFi. But, experts believe stakeholders will challenge the new rule in court.
The top 100 DeFi tokens had a bullish week, following the footsteps of broader market gains, and the total value locked (TVL) in DeFi protocols crossed $63 billion.
DeFi compliance to be a top industry trend in 2024, says Ripple’s president
According to its president, Monica Long, global payment network Ripple expects compliance in decentralized finance (DeFi) to be the industry’s “biggest breakthrough” of 2024.
In an interview with Cointelegraph, Long said previous hype cycles fueled by initial coin offerings and nonfungible tokens would be replaced by real-world utility at scale, which requires compliance, usability and integration with existing systems.
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SEC’s new dealer rules will be challenged in court, say experts
The U.S. SEC adopted new rules on Feb. 6 that redefine “dealer” and “government securities dealer.” First proposed in 2022, the new rules require more crypto market participants to register, join a self-regulatory organization and comply with federal securities laws.
The new SEC rules have garnered much criticism from the crypto community, DeFi ecosystem and pro-crypto politicians. Since the rules were first proposed two years ago, the crypto community has protested, citing a lack of clarity on the definition of crypto securities.
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EigenLayer TVL rockets $1 billion after temporarily removing staking caps
Ethereum-based liquid restaking protocol EigenLayer’s TVL has surged by a staggering $1…
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