Topic: When a true DEX is invented, will all fiat to crypto exchanges be banned? (Read 149 times)
June 25, 2019, 07:26:55 AM
there are already several dex platforms. but the issue is they are not popular so the volumes are so low. and nobody wants to trade in low volume platforms. but in the future they will become more popular for sure.
June 25, 2019, 07:07:51 AM
As we can see with the new FATF rules, exchanges are scrambling to comply with mandatory KYC set to be introduced for anyone wishing to transact over $1,000 worth of crypto.
When a true decentralised exchange is invented (i.e. something that boots up like a bittorrent interface with no centralised server), having centralized exchanges with KYC is redundant.
Someone can just buy crypto off a centralised fiat exchange, and exchange it for moneros on a dex destroying the audit trail. They will be able to do as they please with the crypto (laundering, terrorist donations etc).
Can anyone explain to me how crypto/fiat exchanges won't get banned when a true dex is invented?
When a true decentralised exchange is invented (i.e. something that boots up like a bittorrent interface with no centralised server), having centralized exchanges with KYC is redundant.
Someone can just buy crypto off a centralised fiat exchange, and exchange it for moneros on a dex destroying the audit trail. They will be able to do as they please with the crypto (laundering, terrorist donations etc).
Can anyone explain to me how crypto/fiat exchanges won't get banned when a true dex is invented?
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