a16z and DeFi Education Fund Seek SEC Safe Harbor for DEXs

a16z and the DeFi Education Fund submitted a joint proposal to SEC Commissioner Hester Peirce requesting a safe‑harbor rule that would create a rebuttable presumption that decentralized exchange (DEX) protocols and their front‑ends are not exchanges under the Exchange Act.

Separate Request for Centralized Platforms

In a second letter filed the same day, a16z asked the SEC to develop a registration regime for centralized crypto trading platforms, modeled on the 1998 alternative trading system (ATS) rules.

Timing of the Letters

Both letters are dated September 14, three days before the SEC issued its Innovation Exemption for tokenized‑stock venues.