Ripple and TRM Labs recently organized a joint event, a round table with representatives of regulators and industry, which was held as part of the Singapore Fintech Festival, which discussed the need to create new regulatory principles and approaches aimed at ensuring compliance and stimulating the expected growth in the field of decentralized finance (DeFi).

Ripple emphasized the importance of regulatory guidelines for successful development in the field of decentralized finance (DeFi). As part of a recent round table held at the Singapore Financial Technology Festival, regulators and industry representatives gathered to discuss the future of DeFi.

Important points that have been highlighted include the need to establish a common definition of DeFi, strengthening information exchange between regulators and implementing compliance through smart contracts. Ripple's president, Monica Long, expressed hope that innovative DeFi compliance will be an important achievement in 2024.

Nevertheless, the participants of the round table recognized that DeFi is characterized by limitlessness, which may cause the need for regulatory mechanisms. The lack of standardization between different jurisdictions highlights the importance of global cooperation and information exchange between regulators.

It is important to note that the cryptocurrency industry, including major players such as Binance, is experiencing a shift towards regulatory compliance, given recent events that have influenced sentiment in this area.