March 29, 2024

Market News | DeFi services have so far fallen out of the cryptocurrency regulation perimeter

Beyond the concept of cryptocurrency regulation inThe Russian Federation may remain a decentralized finance (DeFi) sector through which services typically provided by banks and other financial institutions are offered.

The Ministry of Finance expressed concerns about this; the State Duma is “critical”, but is not yet ready to initiate a ban on such services.

Experts believe that there is simply no way to completely control DeFi at the moment.

Meanwhile, there are more than enough risks for DeFi users - hacks of DeFi protocols are in second place in frequency after hacking of crypto exchanges.

Head of the State Duma Committee on Financial MarketAnatoly Aksakov - to develop regulation it is necessary to “start with a limited range of tools and platforms.” But it’s too early to talk about banning or legalizing DeFi.

Uncontrolled decentralization - Newspaper Kommersant No. 21 (7222) of 02/07/2022 (kommersant.ru)