FATF includes DeFi in guidance for crypto service providers
Decentralized finance, or DeFi, continues driving more interest from regulators, becoming a part of major international rules designed for virtual asset service providers, or VASPs.
On Oct. 28, the Financial Action Task Force, or FATF, issued a new update for its 2019 guidance for 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 FATF standards on virtual assets and VASPs requiring further clarification, also reflecting input from a public consultation in March and April 2021.
The authority has provided significant additional guidance regarding the DeFi industry despite DeFi applications not being a VASP
Read more on cointelegraph.com
