[Blockchain Association Opposes Citadel's DeFi Regulatory Proposal, Supports SEC's Innovation Exemption Framework] Odaily Planet Daily News: The Blockchain Association has submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) in response to Citadel's earlier proposal to strengthen DeFi regulation. The Blockchain Association stated that DeFi protocol developers are not brokers or exchange operators and should not be included in regulatory frameworks designed for traditional financial intermediaries. The organization also urged the SEC to advance the 'innovation exemption' mechanism to provide a regulatory pilot space for on-chain assets and tokenized securities, noting that the comprehensive rulemaking process is lengthy, which could delay technological implementation and drive innovation overseas. Previously, Citadel had suggested that the SEC strengthen DeFi regulation through formal legislative processes. (The Block)