The Association for Financial Markets in Europe (AFME) published a paper on Decentralized Finance (DeFi). With the EU’s recent adoption of Markets in Crypto Asset (MiCA) regulations, DeFi was largely omitted. The paper includes suggestions from AFME regarding potential regulatory approaches.
It acknowledges that DeFi operating within the regulatory perimeter could achieve broader adoption in future.
“Current DeFi efforts can be seen as outsourced innovation and research and development (R&D) labs for the formal financial system,” says the paper.
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