Why SEC’s ‘Crypto Mom’ Thinks Gensler’s DeFi Stance Threatens First Amendment Protections

Hester Peirce , a Commissioner at the Securities and Exchange Commission, has criticized agency Chair Gary Gensler’s recent proposals to include decentralized finance (DeFi) protocols under the umbrella of “exchange” in a new speech. What Happened: Peirce, popularly known as “Crypto Mom,” said last week that such a change would be counterproductive and only serves as a way to force centralization and stagnation.