FATF Report: DeFi Protocols with Identifiable Controllers Should Be Regulated as VASPs

Original sourceCoincu

Summary

The Financial Action Task Force (FATF) has released its 2026 thematic report on decentralized finance (DeFi), clearly stating that if a DeFi protocol has an identifiable owner, operator, or controller, it should be treated as a Virtual Asset Service Provider (VASP) and subject to corresponding AML/…

Key points

Global DeFi teams can use this guideline to proactively adjust their structures and avoid retroactive regulation and subsequent compliance demands from financial intelligence units in various countries.
For the first time, FATF has issued a thematic report establishing VASP identification criteria for DeFi, which will influence the regulatory direction and compliance requirements for decentralized protocols in major economies worldwide.
Developers and founders should immediately assess whether there are roles or mechanisms in their projects that could be considered “controllers,” and if necessary, adjust governance processes and information disclosure to mitigate the legal risk of being unilaterally designated as VASPs by certain countries.

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Editorial note

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