G20 watchdog homes in on decentralised finance after FTX crash

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Reuters UK

By Huw Jones LONDON (Reuters) – The G20’s Financial Stability Board (FSB) said on Thursday it would take steps to tackle “vulnerabilities” and data gaps in decentralised finance (DeFi) highlighted by the collapse of cryptocurrency exchange FTX last year. The fast-growing and unregulated DeFi segment offers trading, borrowing and lending in cryptocurrency assets by using public blockchains to record transactions, with no central control. “The fact that crypto-assets underpinning much of DeFi lack inherent value and are highly volatile magnifies the impact of these vulnerabilities when they mate…

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