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Author Topic: When a true DEX is invented, will all fiat to crypto exchanges be banned?  (Read 95 times)
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June 25, 2019, 12:07:51 PM
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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?
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