Crypto Exchanges - What's Going to Happen?

The SEC wants to expand the definition of an exchange. They say anything that is a communication protocol that allows for the transfer of securities or assets could be defined as an exchange on those new framework, which is extremely broad even under the current frameworks. But what's going to happen, as defis gan't get pulled in here? I mean, if dfy, even if we take out exchanges, the main concern is people looking at these communication protocles,. Which is exactly what dfy is trying to do would fall under this.