DeFi platforms can comply with regulations without compromising privacy — Web3 exec

Balancing regulatory compliance with the need for innovation and decentralization is an ongoing challenge for the DeFi industry, according to Alastair Johnson of Nuggets.

has been a rapidly growing sector of the cryptocurrency industry, but it has also faced significant regulatory challenges. With regulators struggling to keep up with the pace of innovation, the lack of clarity around regulations tends to create uncertainty for DeFi projects.

Although privacy is a cornerstone of DeFi, regulatory compliance is essential to protect users and ensure that DeFi platforms are operating within the law. Speaking on how DeFi platforms can balance the need for privacy with regulatory requirements, Johnson shared that “Regulatory compliance will involve implementing AML /KYC procedures. This can be done without compromising user privacy by using non-correlatable peer decentralized Identifiers and zero-knowledge proofs.

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