PANews reported on February 13 that according to CoinDesk, the DeFi Education Fund (DEF) in Washington, D.C., said in response to the UK's Financial Conduct Authority (FCA) consultation paper on the regulation of crypto asset activities that regulatory obligations should only apply to entities with "unilateral control" over user assets or transactions, and should not be considered intermediaries just because they develop or participate in decentralized protocols. DEF advocates that "control" should be tied to specific operational rights such as unilaterally initiating or blocking transactions, modifying protocol parameters, or excluding users, and warns that if the requirements of prudential supervision, reporting, and platform access of centralized trading platforms, as well as full anti-money laundering obligations, are directly applied to automated, non-custodial DeFi protocols, it will be structurally difficult to match.