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FATF wants governments to hold the people behind DeFi protocols accountable

Quick Take

  • The FATF’s virtual asset guidance has been finalized.
  • The final document includes clarifications to its VASP definition, especially as it relates to decentralized finance entities.
  • While the software itself is off the hook, the developers behind decentralized protocols are not.
While the final iteration includes welcome clarifications to certain controversial definitions, people close to the industry warn that the devil is in the implementation.

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