17/07/2026
Regulatory Issues for Morpho/Gauntlet-Style DeFi Lending: How Should Non-Custodial Vaults and Curators Be Treated Under Japanese Law?
How are Morpho- and Gauntlet-style DeFi lending protocols viewed under Japanese law?
This article explains the mechanics of these protocols and examines the key legal issues they raise under Japan's regulatory framework, including the Money Lending Business Act, the Financial Instruments and Exchange Act, and the Payment Services Act. It also discusses how the legal analysis may differ depending on the role of each participant, from users to protocol operators and curators.
Read the full article here 👇
https://innovationlaw.jp/en/morpho-gauntlet-defi-lending-japan-law/
(Author: So Saito)
An explanation of the regulatory issues involved in offering or soliciting Morpho/Gauntlet-style DeFi lending services in Japan. Focusing on non-custodial vaults and curators, this analysis examines the management and trading of USDC and WETH, collective investment schemes, investment management and...