On July 22, SEC Commissioner Hester Peirce warned that some crypto vaults and onchain lending strategies may fall under federal securities laws. According to her, the regulatory risk depends on how the products are structured and who controls the investment decisions. Crypto vaults pool custome...
Source: [CryptoSlate](https://cryptoslate.com/131-billion-crypto-vault-boom-will-test-the-limits-of-secs-friendlier-crypto-stance/)