France’s top markets regulator, the Autorité des Marchés Financiers (AMF), has expressed support for globally coordinated rules for decentralized finance (DeFi). In a discussion paper published on Monday, the AMF, which issues licenses to cryptocurrency exchanges looking to operate in the country, shared its “preliminary reflections on the regulatory issues” raised by the decentralized and “disintermediated” protocols that make up the DeFi ecosystem.
The AMF attempts to define DeFi, decentralized governance systems called DAOs and automated “smart contracts” that run transactions. The document also proposes associated risks and control levels for debate.
The document also states, “Given the cross-border nature and reach of DeFi activities, the AMF also supports the development of a globally coordinated regulatory approach to ensure a global level playing field, which is aimed both at protecting investors and promoting innovation.” (CoinDesk) #BNB #binancepizza