Central Bank of France Calls for Supervision of DeFi Industry
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Nov. 29, 2021
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Denis Beau, first deputy governor of the Banque de France, has said European regulators should establish supervision over the decentralized finance sector (DeFi). He has explained:

"Other regulatory changes will have to be introduced which are also very important. I'm referring in particular to the supervision of the development of decentralized finance, where the usual regulatory frameworks are constrained by the fact that issuers and service providers are not easily identifiable in an environment where protocols are automatically executed without intermediaries, and there is no fixed jurisdiction for the services offered."

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Beau has referred to the Markets in Crypto-Assets Regulation (MiCA) bill. The document does not contain provisions affecting the DeFi sector.

In November, the FATF published the final version of its guidelines for regulating the crypto industry with a focus on DeFi and NFTs. In the final version of the document, experts pointed out the risks of decentralized financial protocols.

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