As the decentralized finance (DeFi) world continues to boom, regulatory questions have begun to loom over the space. The Block hosted a panel of thought-leading lawyers to touch on some of those questions in "DeFi and the Law: A round table discussion with crypto's leading lawyers."
In addition to distilling how the legal and regulatory world views developing definitions of words like "decentralized," the panel also touched on:
- Why regulators are grappling with where to point the finger when it comes to decentralized projects
- Why the Howey Test may not be enough to figure out what is and isn't a security
- Where Automatic Market Makers like Uniswap may face more regulator scrutiny in their dealings
- Why prediction markets are considered illegal and what that means for decentralized venues
- What guidance from Bank Secrecy Act and Office of Foreign Assets Control means for DeFi
- How governance tokens can be a money making solution but a slippery slope for compliance.
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