a16z and DeFi Education Fund Push SEC for Safe Harbor on NFTs and DeFi

Key Points

1. The request was sent to SEC Commissioner Hester Peirce, who leads the Crypto Task Force, following a call from the Working Group on Digital Assets for regulatory relief for DeFi providers.

2. The proposal argues that NFT platforms and certain decentralized projects should not fall under traditional broker-dealer or exchange rules.

3. A safe harbor would provide three benefits: clearer regulatory lines, preserved SEC authority to act against high-risk behavior, and reduced legal uncertainty for U.S.-based teams.

4. The SEC and private plaintiffs have recently sued firms accused of operating unregistered securities exchanges, highlighting the need for regulatory clarity.

5. The request aligns with broader industry efforts to establish clearer guidelines for crypto and DeFi projects under existing securities laws.