Decentralized finance (DeFi) has been a quickly rising sector of the cryptocurrency trade, however it has additionally confronted vital regulatory challenges. With regulators struggling to maintain up with the tempo of innovation, the shortage of readability round laws tends to create uncertainty for DeFi initiatives.
Cointelegraph spoke to Alastair Johnson about regulatory challenges dealing with the DeFi trade. Johnson is the CEO of an identification “super-wallet” known as Nuggets that seeks to ship verified self-sovereign decentralized identities to customers. He stated that one of many major regulatory challenges is DeFi platform anonymity, which makes it tough to adjust to Anti-Cash Laundering (AML) and Know Your Buyer (KYC) laws.
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