DeFi Education Fund urges the UK to control definitions to avoid misidentifying developers

According to HaShi Chain News, the DeFi Education Fund (DEF) stated that the regulatory responsibilities outlined in the consultation document on cryptocurrency asset regulation published by the UK Financial Conduct Authority (FCA) should be limited to user assets or transactions where there is 'unilateral control' by the entity. DEF mentioned that 'control' should relate to specific operational permissions that may unilaterally initiate or block transactions, modify protocol parameters, or exclude users, and warned that applying the prudential regulation, reporting, and platform access requirements, as well as comprehensive anti-money laundering responsibilities that centralized trading platforms bear, to automated, non-custodial DeFi protocols would be structurally difficult to achieve.