Identifying the problem with traditional finance integrity laws and regulations in DeFi

Traditional finance integrity laws and regulations are not compatible with decentralized finance (DeFi) systems due to their reliance on intermediaries. This paper proposes three solutions to address this issue. Firstly, a definition of independent control is proposed to identify systems dependent on centralized actors. Secondly, genuine DeFi systems are classified as critical infrastructure subject to oversight by the Treasury Department's Office of Cybersecurity and Critical Infrastructure Protections (OCIP). Thirdly, a new category of critical communications transmitters (CCTs) is suggested for businesses that interact with genuine DeFi but are not system control persons. These CCTs would have regulatory obligations to aid in the protection of US national and economic security, without being subject to the Bank Secrecy Act (BSA).