Crypto Regulation By Any Other Name

2022 was billed as the year regulation will descend on the cryptocurrency (“crypto”) and decentralized finance (“DeFi”) spaces. While it seems regulation may indeed be coming, it initially appears to be buried in lengthy measures with broader and more generalized application than what may have been expected. These initial provisions could potentially—and fundamentally—alter the legal and compliance landscape for crypto and DeFi entities. However, whether intentional or not, they do not have titles or accompanying publicity that would suggest their significance to the emerging industries affected. The initial salvos are on two principal fronts: financial market regulation, and financial crime controls.