FATF includes DeFi in guidance for crypto service providers

FATF includes DeFi in guidance for crypto service providers

Despite DeFi apps not being VASPs under the FATF standards, the authority still wants them regulated like VASPs. Decentralized finance, or DeFi, continues driving more interest from regulators and is becoming a part of the major international rules designed for virtual asset service providers, or VASPs.On Thursday, the Financial Action Task Force, or FATF, issued a new update to its 2019 guidance to a risk-based approach for virtual assets and VASPs, paying particular attention to the DeFi industry.The new guidance addresses issues identified in the FATF’s 12-month review of the revised....


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