The Blockchain Association has formally opposed Citadel's proposal for increased regulation of decentralized finance (DeFi) by the U.S. Securities and Exchange Commission (SEC). In a comment letter to the SEC, the association argued that DeFi protocol developers should not be classified as brokers or exchange operators, as these roles are traditionally associated with financial intermediaries.The Blockchain Association also advocated for the SEC to implement an "innovation exemption" framework, which would establish a regulatory sandbox for on-chain assets and tokenized securities. This approach aims to expedite technological adoption and prevent innovation from moving overseas, as the current rulemaking process is considered lengthy. Citadel had previously suggested that the SEC enhance DeFi oversight through formal legislative measures.

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