Paris, July 22 -- The Financial Action Task Force, in a new report published on Tuesday, highlighted the rapid growth of decentralised finance (DeFi) and how its unique features are being increasingly exploited by illicit actors, including fraudsters, ransomware operators, professional money laundering networks and proliferation financing actors.

In an official statement it noted that despite estimates indicating rapid growth in global use, the FATF's Targeted Report on Regulatory Challenges from DeFi highlights that almost 93% of reporting jurisdictions (132 of 142) have not yet implemented the FATF Standards in relation to qualifying DeFi arrangements, and just two of 142 jurisdictions have actually licensed or registered DeFi arrangem...