[US SEC Commissioner Hester Peirce: Publishing DeFi Code is Protected Free Speech] According to Cointelegraph, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated that publishing open-source DeFi code is protected free speech under the First Amendment and should not automatically impose securities regulatory obligations on developers. She noted that many blockchain projects involve the release of open-source software, which is generally considered a protected activity under the First Amendment. Peirce warned against applying rules designed for centralized financial institutions to decentralized blockchain networks, as the SEC's rulebook is filled with intermediary concepts such as brokers, dealers, exchanges, clearing agencies, transfer agents, investment advisers, and investment companies. She questioned whether these rules should extend to blockchain infrastructure itself, pointing out that distributed networks are used for a wide range of purposes beyond securities trading.