Aave Labs, Kamino, and Veda argue that users depositing crypto or borrowing against collateral in DeFi lending protocols do not enter securities arrangements under the Howey test, Reves, the Investment Company Act, or the Investment Advisers Act

From the articleAave Labs, Kamino and Veda submit DeFi lending legal framework to the SECAlso in Aave, Kamino and Veda Urge SEC to Clarify Rules for DeFi Lending