DeFi Should Be Regulated Like Traditional Finance Players, Global Securities Body Says

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DeFi Should Be Regulated Like Traditional Finance Players, Global Securities Body Says

“There is a common misconception that DeFi is truly decentralized and governed by autonomous code or smart contracts,” Tuang Lee Lim, Chair of IOSCO’s Board-Level Fintech Task Force, said in a statement. “In reality, regardless of the operating model of the DeFi arrangement, ‘responsible persons’ can be identified.” www.coindesk.com

“There is a common misconception that DeFi is truly decentralized and governed by autonomous code or smart contracts,” Tuang Lee Lim, Chair of IOSCO’s Board-Level Fintech Task Force, said in a statement. “In reality, regardless of the operating model of the DeFi arrangement, ‘responsible persons’ can be identified.”

www.coindesk.com

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