The U.S. Department of the Treasury released the 2023 DeFi Illegal Financial Risk Assessment Report, which considers the risks associated with so-called DeFi services, saying the Democratic People’s Republic of Korea (DPRK), cybercriminals, ransomware attackers, thieves and scammers Actors such as DeFi services are using DeFi services to transfer and launder their illicit proceeds. The study also includes recommendations for U.S. government action to mitigate illicit financial risks associated with DeFi services, including: strengthening U.S. anti-money laundering/combating the financing of terrorism regulation, considering additional AML/CFT obligations for the private sector on DeFi services Guide, evaluate enhancements to address any AML/CFT regulatory loopholes related to DeFi services.