At the end of 2021 and the beginning of 2022, several US and international financial regulators have indicated that the concept of a trading facility is undergoing a dramatic revaluation to include more platforms that, until recently, were unregistered. Of particular significance, this shift in regulatory thinking will apply to decentralized finance (DeFI) platforms that are under increased scrutiny of regulators. In this webinar, panelists discuss these developments in the U.S., Europe and Singapore.