CFTC discloses DeFi report for the first time! Paradigm calls it the most comprehensive review of DeFi in the U.S. yet

The Technical Advisory Committee of the U.S. Futures Trading Commission (CFTC) recently submitted a detailed report to the CFTC, focusing on decentralized finance (DeFi) issues. Commission Commissioner Christy Goldsmith Romero said the purpose of this report is to provide clearer information and guidance to the U.S. Congress, state legislatures, and regulatory agencies such as the CFTC.

The report includes providing suggestions for legislators and regulators, such as strengthening DeFi-related knowledge, improving law enforcement efficiency, and evaluating the existing regulatory framework to deal with risks.

Ari Redbord, director of legal and government affairs at TRM Labs and vice chairman of the CFTC Technical Advisory Committee, pointed out that in recent years, legislators around the world have established cryptocurrency regulatory frameworks, but these frameworks almost all focus on centralized exchanges.

Paradigm: The U.S. government’s most comprehensive review of DeFi to date

Justin Slaughter, policy director at Paradigm and a member of the CFTC Technical Advisory Committee, said that this report is of great significance to the CFTC. Although it does not have legal effect, this report is regarded as one of the important documents for the US government’s most comprehensive review of DeFi and may become a key reference for formulating DeFi policies.

Justin Slaughter pointed out that the report did not clearly define DeFi, but provided a framework and scope to measure the degree of decentralization of the project. He is optimistic about this and believes that this is an important step in establishing DeFi regulations.

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