SEC Commissioner Hester Peirce warned DeFi vaults with discretionary management face securities laws, sending MORPHO down 5% amid $8.6B in
SEC Commissioner Hester Peirce warns crypto vaults and onchain lending strategies may trigger securities rules.
SEC’s Hester Peirce has warned that on-chain DeFi vaults could be classified as securities, signaling a massive compliance shift for crypto yield platforms.