Regulators are turning their attention to the world of decentralized finance, or DeFi, in a case of alleged market manipulation in one of crypto’s wildest spaces. It’s actually a good sign for the industry, according to credit rating agency Moody’s.
Both the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) this month charged Avraham Eisenberg over the exploitation of some $116 million from the Mango Markets platform. It represented an important expansion of U.S. regulators’ scrutiny over the world of cryptocurrencies, including the SEC naming a decentralized protocol token, MNGO, a security.