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DeFi education funds and a16z urge the US SEC to create a regulatory safe harbor for blockchain applications
[DeFi Education Fund and a16z Urge US SEC to Create Regulatory Safe Harbor for Blockchain Applications] As the US Securities and Exchange Commission (SEC) shifts to a new regulatory approach for digital assets, the DeFi Education Fund and Andreessen Horowitz proposed safe harbor recommendations for certain applications. This venture capital firm and DeFi advocacy organization sent a letter to SEC Commissioner Hester Peirce on Wednesday, calling for the establishment of safe harbor rules to clarify the broker rules for blockchain applications such as Uniswap, CEX Wallet, and OpenSea. The DeFi education fund and a16z stated that during the previous administration, the SEC took specific enforcement actions, indicating that the agency implied these applications needed to register as broker-dealers. The SEC had accused CEX Wallet of acting as a broker-dealer without registration, but the court later dismissed this accusation. The SEC had previously sent notices to Uniswap Labs and OpenSea, stating that they were under investigation, but these notices were later withdrawn.