MITRE Representatives Meet with SEC Crypto Panel to Reveal Hidden Centralization Behind DeFi Protocols

According to a report from Jinse Caijing, the U.S. Securities and Exchange Commission (SEC) disclosed a meeting memorandum document today. On February 21, the SEC's Cryptocurrency Special Action Group met with representatives from MITRE, an affiliate of the Massachusetts Institute of Technology. MITRE operates a research and development center funded by the U.S. Department of the Treasury. MITRE representatives submitted attachment documents and discussed the following during the meeting:

MITRE will promote the design of a framework for multi-agency collaborative regulation of stablecoins, develop tools to optimize the collection and analysis of regulatory opinions;

Reveal the centralized risk behind the control of DeFi protocols, uncover the hidden centralization in decentralized financial markets;

Assess the systemic risks when DeFi interacts with traditional financial systems;

The necessity of a smart contract level circuit breaker mechanism, MITRE proposes embedding risk prevention mechanisms in smart contracts to suppress risk transmission.