Curve founder says FATF pressure could make DeFi safer

Curve Finance founder Michael Egorov said pressure from the Financial Action Task Force, or FATF, to regulate DeFi could ultimately make the sector safer, according to The Block. Egorov said in an interview with The Block that FATF’s regulatory push could paradoxically have a positive effect on how DeFi protocols are designed. He said DeFi could evolve in ways that reduce privileged access, remove upgrade risks, and ensure no party can access user funds. At the same time, Egorov stressed that the mere existence of a development team should not make a protocol subject to regulation. Writing, maintaining, and managing code does not in itself grant authority to control a protocol, he said.