The World Economic Forum (WEF) has just released a policy toolkit focused on the decentralized finance (DeFi) industry with the aim of providing a framework that regulators and policy makers all over the world can use to support their decisions.
It is not surprising that regulators want to provide guidance on DeFi if we consider how much the sector has grown. According to DappRadar, the adjusted total value locked in the DeFi market amounts to $67 billion.
The toolkit is the result of the collaboration between the WEF and other companies and institutions, including the Blockchain and Digital Asset Project at the Wharton School of the University of Pennsylvania, DeFi entrepreneurs as well as legal experts and regulators from Europe and the US of the finance sector.
One of the issues the toolkit addresses is the one affecting crypto startups trying to access the sector. Until now, they had to face more obstacles than larger players, however, the toolkit aims to change that. Notably, Sheila Warren, deputy head of WEF’s Centre for the Fourth Industrial Revolution, said:
“This is something we spend a lot of time thinking about, both with respect to supporting fledgling companies driving innovation but also with respect to what it means in terms of access.”