The US Securities and Exchange Commission (SEC) has received two new public comments through its Crypto Task Force page.
Both focus on how digital asset ownership and decentralized finance (DeFi) trading should be regulated in the future.
One submission was sent by “DK Willard”, which represents concerns from Louisiana users. The other came from the Blockchain Association Trading Firm Working Group, which deals with tokenized equity markets and regulatory definitions for dealers.
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The Louisiana comment refers to House Bill 488, a state law that confirms residents’ right to keep control of their digital assets.
It emphasizes that any upcoming federal crypto laws should maintain clear registration standards, ensure transparency, and uphold rules that prevent fraud and manipulation.
It also warns that some federal proposals could create loopholes that allow developers and platforms to avoid key investor protection obligations.
Meanwhile, the Blockchain Association’s letter asks the SEC to clarify how dealer rules apply to firms active in tokenized and DeFi markets.
The group argues that companies trading only on their own behalf, without managing client funds or acting as agents, should not automatically be classified as dealers under the Exchange Act.
The letter adds that today’s broker-dealer rules were built for traditional financial systems and may not suit blockchain environments that rely on smart contracts for trade settlement.
Recently, SEC Chair Paul Atkins spoke in a Fox Business interview about claims that Venezuela might hold around $60 billion in Bitcoin
