The Financial Stability Board (the FSB) recently released its first report on Decentralized Finance (DeFi). The report identifies certain vulnerabilities within DeFi and reveals that the FSB intends to create a global surveillance system to monitor DeFi activity and applications. This article provides a concise summary of the DeFi report and describes potential implications for DeFi users.What is the FSB?The FSB is an international organization committed to promoting global financial stabilit...