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The investing elephantine had asked the U.S. Securities and Exchange Commission to dainty DeFi players similar regulated entities, and the DeFi assemblage pushed back.
Dec 12, 2025, 10:20 p.m.
After a 13-page missive from concern powerhouse Citadel Securities advised the U.S. Securities and Exchange Commission that decentralized concern (DeFi) protocols handling tokenized securities request a person regulatory grip, the manufacture answered back with its ain correspondence connected Friday, calling the arguments "baseless."
"While we stock Citadel’s aims with respect to capitalist protections, orderly markets, and the integrity of the nationalist marketplace system, we disagree that achieving these goals ever necessitates registration arsenic accepted SEC intermediaries and cannot, successful definite circumstances, beryllium met done thoughtfully designed onchain markets," according to the caller missive to the SEC, signed by the DeFi Education Fund, task superior steadfast Andreessen Horowitz (a16z), the DigitalChamber, Orca Creative, lawyer J.W. Verret and the Uniswap Foundation.
Citadel Securities contended that DeFi protocols whitethorn run arsenic exchanges oregon brokerages successful request of registration and regulation. However, this year's caller absorption of the SEC nether President Donald Trump has been seeking ways to springiness the crypto manufacture much argumentation leeway. And White House crypto advisor Patrick Witt conscionable posted connected societal media tract X that his bureau supports the "need to support bundle developers and DeFi."
"As elaborate successful our remark letters, Citadel Securities powerfully supports tokenization and different innovations that tin reenforce America’s enactment successful integer finance, but this does not necessitate sacrificing the rigorous capitalist protections that person made U.S. equity markets the planetary golden standard,” a spokesperson said successful an emailed comment.
Citadel's missive included "several factual mischaracterizations and misleading statements," according to the DeFi coalition's response. And a DeFi Education Fund spokeswoman, Jennifer Rosenthal, suggested the steadfast is protecting its concern interests.
"It is convenient for Citadel to question the beingness of a exertion that threatens its concern and important marketplace share," Rosenthal said.
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