[FATF: DeFi with Identifiable Controllers Should Be Regulated as Virtual Asset Service Providers] Odaily Planet Daily News – The Financial Action Task Force (FATF) stated in a report released on Tuesday that if a DeFi arrangement involves identifiable individuals retaining 'control or sufficient influence,' its rules are applicable regardless of the project's claimed level of decentralization. FATF noted that many DeFi projects still frequently exhibit centralized elements in practice, including concentrated governance tokens, management authority, upgrade control, and fees and rewards flowing to insiders. The report categorizes DeFi into three types: those with identifiable controllers, those that are effectively centralized but whose operators are concealed, and those that are truly leaderless, with only the last category exempt from its standards. The report revealed that nearly 93% of jurisdictions responding to the survey have not applied relevant standards to any qualifying DeFi arrangements. Out of 142 jurisdictions, only 26 have assessed risks, 4 have established licensing rules, and only 2 have registered or licensed related platforms. FATF urged countries to require or encourage DeFi projects to embed anti-money laundering controls into smart contracts or interfaces. For platforms refusing to cooperate, jurisdictions may resort to banning their local operations as a last resort. The report also noted that the total value locked in DeFi reached $86.6 billion this year, an increase of approximately 85% compared to 2023.