French Regulator Seeks Balanced Approach to DeFi Regulation

French regulator ACPR concludes consultation on DeFi regulation, prefers "disintermediated" over "decentralized" finance
Respondents advocate continuing DeFi deployment on public blockchains, with regular audits
Proposals to regulate intermediaries and certify smart contracts met with broad consensus
ACPR finds advisable to certify smart contracts, define governance protecting customers, support blockchain infrastructure
ESMA report admits DeFi benefits like financial inclusion, innovation, speed and security, but highlights significant risks