Centralized Elements 'Frequently Persist' in DeFi and Should Be Regulated: FATF
Decrypt·
60-second summary
The Financial Action Task Force (FATF) warns that centralized elements in DeFi persist, necessitating regulation. Almost every country has yet to implement the required rules, risking outright bans for non-compliant platforms. This oversight could have significant implications, potentially stifling DeFi growth and pushing it further underground, compromising investor safety and security.
Nearly every country has yet to apply the rules, the watchdog said, warning of outright bans for platforms that don’t comply.