International Organization of Securities Commissions: Find out who's in charge of DeFi projects and regulate them

Odaily Planet Daily News The International Organization of Securities Commissions (IOSCO) said in a report released on Thursday that governments should figure out who is responsible for so-called DApps and regulate them like normal financial market participants. Members of global standard-setters include bodies such as the U.S. Securities and Exchange Commission and the U.K.’s Financial Conduct Authority, who are concerned that innovative financial applications could be easily manipulated and appear skeptical of the premise that no one is in control and legally obligated. In principle, decentralized finance (DeFi) — which allows for lending or trading using algorithms, tokens, and decentralized autonomous organizations (DAOs) — upends many of the premises of conventional financial regulation, which relies on finding a A central figure or company is responsible for maintaining fairness in the market and protecting investors. IOSCO recommends that national regulators determine who is really in charge and give them the same obligations to maintain investor protection and market integrity as traditional finance (TradFi). (CoinDesk)