DeFi regulation has been a major bone of contention among regulatory watchdogs across the world. A recent paper, authored by Rebecca Rettig, Katja Gilman from Polygon Labs, and Michael Mosier from Arktouros, proposes a strategy to classify truly decentralized DeFi protocols as critical infrastructure.
This classification would place them under the oversight of the US Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP). Although the OCCIP isn’t a typical financial regulator, it plays a crucial role in strengthening the security and resilience of critical infrastructure in the financial services sector.
It collaborates with financial institutions, industry associations, and government agencies to exchange information about cybersecurity risks and weaknesses.
Classifying DeFi As ‘Critical Infrastructure’
The 45-page research suggests it is possible to set up safety measures to tackle the risks of illegal money activities in DeFi Systems. Instead of br
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