French Market Regulator Considers Supporting Global DEFI Rules
Date: 2023-06-19 Author: Евгений Облакевич Categories: BLOCKCHAIN
In a paper published today, the AMF expressed its views on the regulatory issues associated with the so-called decentralized and intermediary protocols that are the glue building blocks of decentralized finance. the paper raises the question of defining decentralized finance, as well as the question of defining automated smart contracts that execute transactions. the document also indicates possible risks and possible levels of regulation. According to AMF, the world needs a globally coordinated DEFI regulatory approach to create a level playing field, both to protect investors and to promote innovation in the marketplace.
According to AMF Secretary General Benoit de Juvigny, the document is a contribution to the development of EU policy regarding the regulation of DEFI, but he also noted the problem of classifying market participants, since, according to Juvigny, this will be much more difficult than it is done in traditional markets.
The document is at the stage of final development and needs public discussion and possible debate.
AMF is not the only organization with a goal in DEFI regulation. Also, such global organizations as the Financial Stability Board (FSB) and the International Securities Regulator (IOSCO) have already published or plan to publish similar recommendations regarding the regulation of this market. AMF insists on supporting these initiatives, deeming it necessary to coordinate as closely as possible between various public, private and international structures in order to create an optimal regulatory framework to promote the development of the decentralized finance market in the long term, the document says. all interested parties are expected until September 30 to submit possible proposals regarding the proposed topics of the ANF.
