SEC's Peirce warns crypto vault builders: securities law may apply to you

SEC Commissioner Hester Peirce, known as "Crypto Mom," issued a statement warning that onchain vaults and lending platforms may fall under the SEC's regulatory authority. She cautioned builders against twisting securities law to avoid oversight, warning they "will have a painful fall." The statement clarifies the SEC's position on the rapidly growing decentralised finance (DeFi) sector.