The bankruptcy of centralized crypto exchange FTX has led to congressional hearings and calls to further scrutinize and regulate cryptocurrency and decentralized finance (DeFi). But how does DeFi compare to centralized or traditional finance in terms of its risks and benefits, and how should regulation take into account these distinctions? This panel will explore what it means for financial instruments and exchanges, as well as networked organizations, to be decentralized, the proper role of regulators when confronting decentralized financial markets, and the future of financial technology policy and innovation. Please join us for an in‐​person lunch, or online, to hear from a panel featuring Linda Jeng, Dane Lund, and Tiffany J. Smith in discussion with Jack Solowey, hosted by Jennifer Schulp.