US SEC’s Hester Peirce Warns Crypto Vaults May Trigger Securities Laws

Hester Peirce warned that some crypto vaults may fall under securities laws. Onchain lending strategies could also trigger SEC rules. Peirce stated moving financial products onchain does not avoid regulation. Vaults using staking, lending, or manager-led strategies need legal review. She urged crypto firms to work with the SEC on compliant products.