Moody’s: Accusations against Mango Markets hacker will have a positive impact on the DeFi industry

Decentralized finance is no longer a wild environment with unclear laws and regulations, according to an expert from the rating agency Moody’s.

Moody’s assistant vice president of decentralized finance, Cristiano Ventricelli, said that the arrest of the hacker who hacked the decentralized exchange Mango Markets will have a positive impact on the DeFi industry. The trial of Abraham Eisenberg means the industry is moving towards a safer and more supportive environment:

“The fact that US regulators the SEC and the CFTC took note of the situation and prevented market manipulation says that the industry will continue to be able to count on justice in the future.”

Regulatory action could improve oversight of the DeFi industry, which has been difficult to regulate for the most part due to a lack of clarity around jurisdiction and open source protocols, the expert says.

Cristiano Ventricelli recalled the June speech by the President of the European Central Bank, Christine Lagarde, that European legislation on cryptocurrencies should be expanded to include decentralized finance structures. Such changes are sure to attract more institutional investors to the industry, and with them banks and retail investors, Ventricelli said.

Earlier, Moody’s said that they are developing a scoring system for analyzing the risks of stablecoins – the platform will support up to 20 assets.