INTERVIEW
2021.10.29
FATF Says “DeFi Service Company Should Be Considered as VASPs”
Service area
Lawyer
On the “Final Guidebook for VASP” the FATF has announced on the 285h, there was a issue that although DeFi services are not VASPs, they are subject to FATF regulations.
Partner attorney Ohoon Kwon analyzed that is the financial authorities reflects FATF guidelines when amending the Act On Reporting and Using Specified Financial Transaction Information, many exchanges that provide token swapping services will inevitably face regulations from relevant authorities. He also expects that since DeFi is a borderless service, financial authorities will also withhold tax from foreigners that do not declare their incomes. [Decenter 2021-10-29]
URL: FATF Says “DeFi Service Company Should Be Considered as VASPs” (decenter.kr)
