CFTC to Explore Options for Regulating the DeFi Market

The US Commodity Futures Trading Commission (CFTC) has received a task from its Technology Committee to begin developing mechanisms to control transactions in the decentralized finance (DeFi) market.

In this regard, the CFTC press service has reported that representatives from the blockchain industry and the expert community will be consulted on the matter, with particular attention being paid to the security of DeFi protocols and the transparency of digital asset transactions within the ecosystem.

Additionally, other CFTC committees are set to address cybersecurity and threats posed by artificial intelligence. CFTC Commissioner Christy Romero has expressed the regulator’s concern with the decentralized nature of DeFi projects, which she considers the main threat to the industry.

The CFTC has asked Congress to grant it oversight of the crypto sphere.