defi regulation
DeFi Pioneer Echoes SBF in Call for Tighter Crypto Regulations
Respected former decentralized finance (DeFi) project founder and developer Andre Cronje has resurfaced after a lengthy hiatus to call for tighter regulations on the crypto sector amid the implosion of multiple firms this year. The comments echo similar sentiments to that of FTX CEO Sam Bankman-Fried (SBF), who also called for more stringent digital asset industry standards last week, including greater consumer protections, transparency and disclosures. SBF was met with strong community pushback, however, with many people accusing the CEO of trying to monopolize or censor the DeFi space, among other things. In an Oct. 25 blog post titled “The Crypto Winter of 2022,” Cronje called for greater regulation of the sector, noting that “the recent decline of the crypto-market has shown the f...
German BaFin official calls for ‘innovative’ EU-wide DeFi regulation
Birgit Rodolphe, an executive director at Germany’s Federal Financial Supervisory Authority (BaFin) has called for innovative and uniform regulation of the decentralized finance (DeFi) space throughout the European Union (EU). BaFin is Germany’s financial regulatory body responsible for regulating banks, insurance firms, and financial institutions including cryptocurrency companies. BaFin is the issuer of “crypto custody licenses,” a permit required for firms wanting to offer cryptocurrency services within Germany. In an article on BaFin’s website Rodolphe warned of the risks to consumers of the unregulated DeFi space and called for standardized regulatory considerations across EU member countries. Birgit Rodolphe, Executive Director Processing and Prevention of Money Laundering at B...
