A Treasury official has a blunt message for DeFi.
The United States Treasury did a risk assessment of decentralized finance and found the sector lacking in several ways, Assistant Treasury Secretary for Terrorist Financing and Financial Crime Elizabeth Rosenberg reminded an audience at the Atlantic Council think tank on April 21. Get ready for more regulation, she said.
The report also found that DeFi was not always very decentralized. “There are generally persons and firms associated with those [DeFi] services to which AML/CFT obligations may already apply,” Rosenberg said. The assessment report established that all DeFi services are liable to comply with the Bank Secrecy Act, including AML/CFT.
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