G20 Watchdog Homes In On DeFi
The Financial Stability Board (FSB) of the Group of 20 (G20) announced on February 16th that it would take steps to address “vulnerabilities” and data gaps in decentralised finance (DeFi) highlighted by the collapse of cryptocurrency exchange FTX last year.
The rapidly expanding and unregulated DeFi segment provides trading, borrowing, and lending in cryptocurrency assets via public blockchains, with no central control.
FSB member countries will now “proactively” analyse vulnerabilities from DeFi as part of regular monitoring of crypto markets, the report said.
(With inputs from Shikha Singh)
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