How do you regulate a crypto exchange market?
Asked 2 years ago
Good morning. I have been planning out my own DEX and each step that I'm going to take, etc. And I've come to a point where I am not really sure how I would maintain and regulate this type of platform. Would it work the same as a CEX where one needs to register with a license and regulations authority for compliance?
Tuesday, May 24, 2022
Regulating crypto, in general, is hard. First, there is no such jurisdiction as a decentralized jurisdiction neither can nodes be held accountable for hacks or rug pulls. Most states in the US do not have fully developed laws for the cryptocurrency space or decentralized exchanges. The best effort at the moment is the US State of Wyoming which is on the verge of developing a legal framework for regulating decentralized businesses as LLCs. You can read more about the developments here.
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