# DeFiRegulation

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#SECWarnsOnChainLendingMayFallUnderSecuritiesLaw
SEC Commissioner: On-chain Lending and Vaults Might Fall Under Securities Law
SEC Commissioner Hester Peirce (widely known as “Crypto Mom”) recently made a statement to note that just because financial operations moved on-chain, it doesn’t free them from Securities and Exchange Commission regulations. The focus for her statement was on crypto vaults, lending protocols, and other such DeFi products.
Key Points
Vaults: If the people managing vaults exercise a great deal of managerial discretion in their selections of yield opportunities or rebala
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