Decentralized finance, or DeFi, which uses blockchain technology to enable peer-to-peer financial transactions and bypass traditional intermediaries, has become a hot topic in 2021. Legislation and regulatory enforcement actions have begun to address DeFi issues, but lawmakers and regulators alike have barely begun to figure out what DeFi is and how it fits into existing regulatory systems.
An early effort to assess the impact of DeFi came in late July, when the National Credit Union Administration (NCUA) issued a request for information and comment from the public on DeFi. Parties with an interest in DeFi should take advantage of this ...
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