A16z Crypto and advocacy group call for NFT, DeFi app safe harbor at SEC

Key Points

1. a16z and the DeFi Education Fund sent a letter to SEC Commissioner Hester Peirce advocating for a safe harbor for DeFi and NFT applications.

2. The letter references a previous call by the US President’s Working Group on Digital Assets to provide regulatory relief for DeFi service providers.

3. A safe harbor would offer regulatory clarity while allowing the SEC to oversee high-risk activities.

4. The SEC previously introduced Special Purpose Broker-Dealers (SPBD) for digital asset securities but clarified it is not mandatory for all broker-dealers.

5. The CLARITY Act, passed by the House, could influence how the SEC and CFTC regulate digital assets.