The U.S. CFTC Advisory Committee urges timely attention to DeFi and promotes compliance development

On January 9th, according to The Block report, the advisory committee of the US Commodity Futures Trading Commission (CFTC) voted on Monday to submit a report to the committee, calling for official and industry efforts to understand decentralized finance (DeFi) and "promote its responsible and compliant development."

CFTC Commissioner Christy Goldsmith Romero said the report aims to "help ongoing policy debates in the US Congress, state legislatures, and regulatory agencies including the CFTC."

The report makes some recommendations, including enhancing understanding of DeFi, strengthening "timeliness and effectiveness" of enforcement, and evaluating existing federal and state-level DeFi regulatory frameworks and identifying areas where regulations need to be expanded to address risks.