Roadmap to Institutional Adoption of DeFi: RSK integrates Coinfirm’s AMLT Oracle
Detalles
Roadmap to Institutional Adoption to DeFi:
RSK integrates Coinfirm's AMLT Oracle
🗣️ Speakers
👨💻Jakub Fijolek, Coinfirm CTO
👨💻Diego Gutiérrez Zaldívar, RSK Co-Founder
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As one of the barriers to the wider adoption of DeFi platforms, lack of institutional support and clear regulations regarding the status of these entities is often mentioned.
The most recent FATF updated draft guidance from March 2021 introduces significant changes to the legal definition of DeFi platforms, expanding the types of entities that fall under FATF’s umbrella. In this guidance, FATF defines most operators of decentralized finance platforms as “Virtual Asset Service Providers” that have AML/CFT obligations.
Addressing these new guidelines, RSK Bitcoin Smart Contract network and the RIF Platform have integrated the DeFi AMLT Oracle, created by global RegTech provider Coinfirm. The use of the Oracle enables the RSK protocol to get a green light for wider adoption by institutional investors and the traditional financial sector looking to gain exposure to decentralized finance.
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