According to Wu Blockchain, U.S. SEC Commissioner Hester Peirce stated that whether crypto vaults and on-chain lending strategies fall under federal securities laws depends on their specific structure and operational methods. Products where the management determines yield strategies, asset allocation, interest rates, loan-to-value ratios, or liquidation thresholds may be subject to regulations for securities, investment companies, or investment advisors. Some on-chain loans may have securities attributes. Peirce urged relevant market participants to proactively engage with the SEC and provide feedback on whether existing rules need adjustments to accommodate innovations in on-chain vaults and lending. https://(wublock123.com)/news/sec-commissioner-hester-peirce-says-some-crypto-vaults-onchain-lending-may-be-securities-65107