The US Department of Treasury recently released a report titled, ‘Illicit Finance Risk Assessment of Decentralised Finance.’ **With a host of developments in the regulatory arena, this report is a major step in the direction of regulation of crypto assets. The report reveals that illicit actors, including ransomware cybercriminals, thieves, scammers, and Democratic People’s Republic of Korea (DPRK) cyber actors, are using DeFi services in the process of transferring and laundering their illic...