The new measures apply to trading through automated market makers and liquidity pools. At the same time, they must comply with a number of requirements, including transaction transparency, recordkeeping, and technological safeguards. SEC Commissioner Mark Ueda noted that platforms are also required to regularly publish dollar-denominated transaction data.
The information must include prices, trading volumes, addresses, and pool sizes. The data provided to the regulator will form the basis for future permanent rules governing securities. After the failure of the Clarity Act to be adopted, SEC and CFTC regulatory provisions are becoming key to regulating the crypto market.