Supposedly decentralized finance is anything but, IOSCO claimed in its statement. In practice, DeFi often involves central actors who retain control, the report said. It also cast doubt on the claim of stablecoins to be backed and collateralized, saying that in practice, users would not always be able to redeem holdings at face value.
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
Unfortunately however, the legislative measure is now heading to the desk of President Joseph Biden, who has vowed to veto...