No Summary provided as the original text is short
- DeFi: Short for Decentralized Finance, DeFi refers to blockchain-based financial services that operate without traditional intermediaries such as banks.
- Securities vs. Commodities: A regulatory classification distinguishing between investment contracts regulated by the SEC and goods or assets regulated by the CFTC.
- Market Structure: The framework and rules governing how a financial market operates, including trading, clearing, and settlement processes.