Programmable regulation could be the solution to legacy regulatory frameworks struggling to keep pace with DeFi’s rapidly evolving ecosystems. Embedding compliance in code can bring legal clarity, reduce risk and foster innovation in DeFi.
Opinion by: Raks Sondhi, chief operating officer of Freedx
Governing composable, borderless and programmable ecosystems with rules made for simple, static financial systems presents a fundamental challenge.
In the past year alone, decentralized finance (DeFi) platforms held over $60 billion worth of crypto assets locked in their protocols. Yet most jurisdictions still lack a clear definition of a decentralized autonomous organization (DAO). This confusion is slowing innovation and undermining the credibility of regulatory institutions.
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