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Title: When a true DEX is invented, will all fiat to crypto exchanges be banned? Post by: 100action on June 25, 2019, 12:07:51 PM 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? |