MITRE representative meets with SEC Crypto team, mentioning the underlying centralization of DeFi protocols

BlockBeats News, February 25th. According to a disclosed meeting memorandum by the U.S. SEC today, on February 21st, the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Special Action Group met with representatives from MITRE, an affiliated organization of the Massachusetts Institute of Technology, which operates as an R&D center funded by the U.S. Department of the Treasury. The MITRE representative submitted the attached document and discussed the following topics during the meeting:

MITRE will drive the design of a multi-agency collaborative regulatory framework for stablecoins, develop tools to optimize regulatory feedback collection and analysis processes;

Reveal the centralization risk of actual control behind DeFi protocols and explore implicit centralization in decentralized finance markets;

Evaluate the systemic risks when DeFi interacts with the traditional financial system;

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

BlockBeats Note: MITRE is a U.S. nonprofit technology research and development organization founded in 1958, focusing on innovation in systems engineering, information technology, and national security. Through a public-private partnership model, it provides technical solutions to U.S. government agencies (such as the Department of Defense, Department of Homeland Security) and the private sector, with significant influence, particularly in the field of cybersecurity, such as maintaining the global vulnerability database CVE and developing the MITRE ATT&CK network attack analysis framework.