The Digital Chamber (TDC) strongly opposes the SEC’s latest lawsuit against Consensys, the creator of the MetaMask crypto wallet. This action, targeting DEX routing and staking services, is another troubling example of the SEC’s overreach.
DeFi platforms like MetaMask’s Swaps and Staking democratize finance, providing greater autonomy, efficiency, and access to financial services. They empower the unbanked and underbanked, promoting financial inclusion and accessibility. The SEC’s claim against Consensys misinterprets the technology and stifles progress that could benefit millions.
The SEC’s repeated enforcement actions, without clear rules, violate their investor protection mandate and create market uncertainty. With the recent end of Chevron deference, this regulatory ambiguity should not stand.
We stand with Consensys and the wider community in advocating for fair regulation that fosters innovation, protects investors, and promotes financial inclusion. Enough is enough—it’s time for the SEC to stop attacking the digital asset industry and embrace the future of finance.
Category: Decentralization Working Group
Chamber Provides Guidance for Treasury on DeFi Regulation
Today, The Chamber of Digital Commerce has responded to the Treasury Department’s Illicit Finance Risk Assessment on Decentralized Finance (DeFi).
In our response, The Chamber provides comprehensive insight into DeFi, defines decentralization, and illuminates the risks tied to it, laying a groundwork for providing clarity to the role and potential of DeFi in modernizing the financial system.
“We would like to thank The Treasury for their collaborative efforts in this endeavor. DeFi is a complicated and technical field, and the Treasury is making the right move by asking for help from real industry experts,” said Cody Carbone, Vice President of Policy. “We are excited to continue this conversation and advocating for the industry and our members.”
The Chamber’s comments are a product of our diverse membership, and we are going to continue to lead the conversation.
**Chamber experts are available for comment. Contact press@digitalchamber.org to schedule an interview.**