Last week, the SEC recommends changes to Regulation ATS to control “major treasury market platforms.” The 654-page proposal aims to “extend regulation ATS to alternative trading systems (ATS) that trade government securities, NMS (National Market System) stock, and other securities.”
The plan is meant to bridge a “regulatory gap” produced by market participants trading all sorts of securities on platforms that are not authorised as exchanges or brokerages. Last Thursday, SEC Chairman Gary Gensler stated that the move would “promote resiliency and broader access in the Treasury market.”
According to Bloomberg, SEC Commissioner Hester Peirce has indicated that a recent proposal might be disastrous for the crypto business. Peirce warns that it might give regulators broad new powers to probe cryptocurrency networks, including decentralised finance (DeFi) protocols.
The proposal is currently available for public feedback. Before the regulations become final, the SEC must take another vote.
 protocols.){kind=link}