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The International Organization of Securities Commissions (IOSCO) published its decentralized finance (DeFi) policy recommendations this week, and it’s advising jurisdictions to figure out who is behind so-called “leaderless” protocols.
DeFi’s anti-centralized body nature makes regulating the industry a challenge, IOSCO said in its latest report, so identifying “responsible persons” is essential.
“A regulator should aim to identify the persons and entities of a purported DeFi arrangement that could be subject to its applicable regulatory framework,” the report read. “These responsible person(s) include those exercising control or sufficient influence over a…
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