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U.S. SEC Out-of-Bounds in Dragging DeFi Into Proposed Exchange Rule, Industry Says

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After the SECGov finally proposed a rule that it wanted to oversee decentralized finance platforms as exchanges, U.S. crypto and DeFi lobbyists have issued a resounding -- Nope! jesseahamilton reports

The U.S. Securities and Exchange Commission wants to stretch how it identifies exchanges it needs to regulate, and the agency’s inbox is jammed with crypto industry letters accusing it of reaching well beyond its legal powers and potentially forcing rules on services the platforms need, such as electric companies.explicitly absorb decentralized finance

“The proposal would operate as a blanket de facto banishment of DeFi from the United States,” the DeFi Education Fund, a lobbying group, wrote in. “The actions and words of the commission and agency personnel have created great confusion.” However, DeFi protocols “intuitively possess none of the defining hallmarks of stock exchanges,” according to the DeFi Education Fund’s letter. “Beyond DeFi, the commission’s proposal has no logical limit and would sweep third-party and utility service providers who contract with exchange providers into the exchange regulatory regime.”

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ایران آخرین اخبار, ایران سرفصلها

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Sturdy Finance Falls Victim to Exploit, Losing 442 ETH in Latest Defi Hack – Defi Bitcoin NewsThe defi community has experienced another hack, with SturdyFinance protocol suffering a loss of 442 ETH, equivalent to an estimated $766K.
منبع: BTCTN - 🏆 531. / 51 ادامه مطلب »

Attacker drains $800K from DeFi protocol Sturdy FinanceBlockSec stated that the hackers utilized a reentrancy attack, a common method hackers use to withdraw funds from DeFi protocols. Additionally, the blockchain security company BlockSec highlighted that the hack was done through a reentrancy attack, which is a common method hackers use to withdraw funds from DeFi protocols.
منبع: Cointelegraph - 🏆 562. / 51 ادامه مطلب »

DeFi lending protocol Sturdy Finance offers $100,000 bounty to its attackerDecentralized lending protocol Sturdy Finance offered a $100,000 bounty to the attacker who siphoned 442 ether ($800,000) from the platform.
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