IDEX is complying to KYC and other regulations

[bluesnup]

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

[rosezionjohn]

This has been known for a while that IDEX will be requiring KYC. Their verification is even worst than known centralized exchanges. I mean submitting name, birthday, and country for a $5,000 limit (tier 1) is just absurd. With this change, I think DDEX will take over as the top DEX.

[yangongear]

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

WTH, a DEX requires creating a new account by email, so I don't know at what point "decentralized" it is? So long ago we just need to connect our wallet to DEX. Yes I'll see what will happen with IDEX.
I only use IDEX and sometime forkdelta. Binance DEX doesn't support ERC20 tokens. Other DEXs don't have volume. So what should we do now??

[Firefoxx]

I will not be surprised if some decentralized exchanges start asking for kycs. Point is, depending on which country there business is located, and if there are regulation for them to follow, what do we expect? One this is, I don't believe in decentralization in cryptocurrency because no matter how we see this, we need regulation to fight the bad eggs amongst us

[BeginToMine]

When I saw this news, I didn't know if I should start laughing or crying, decentralised exchanges was made initially to promote anonymous trading but with this KYC that has been added, that has siezed to be the case, I am sure that the volume in Idex would suddenly plummet when it is fully implemented.

[suzanne5223]

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

I'm really sorry that this kind of happens to DEX an exchange site which claims to be decentralized exchange but we don't what leads to this decision and I believed they will later change their name and logo soon. But to be honest, if we want crypto to go mainstream there must some change just like what DEX did.

[takngantuk]

this is a setback for the exchange of decentralization. why should there be KYC on IDEX, no longer anonymous. then what's the difference with centralized exchange then.

from now on we can no longer say idex is an exchange of decentralization

[sujonali1819]

snip~~
WTH, a DEX requires creating a new account by email, so I don't know at what point "decentralized" it is?

I have the same question really. I personally think a decentralized exchange where I need only a private key to use the exchange. and it's safe where only I can control my wallet.

And the other hand I am not agreed with dex is asking kyc.

[stoat]

lets all go back to forkdelta. idex is full of bots anyway.

[Airelves09]

If the real DEX needs kyc, then I won't use this DEX again. I believe there will always be other DEX to replace. Dex's need for KYC has gone against the original intent of a decentralized exchange. Such privacy can not be guaranteed.

[[btc]YSG]

Idex has lost its reputation as decentralized exchange after it announced it's KYC along with other regulative measures, I think the crypto space is becoming more centralized daily, and very soon almost  all other big decentralized exchanges may follow.

[Kasabus]

Snip~

I'm really sorry that this kind of happens to DEX an exchange site which claims to be decentralized exchange but we don't what leads to this decision and I believed they will later change their name and logo soon. But to be honest, if we want crypto to go mainstream there must some change just like what DEX did.

It is something there is behind this unexpected change, it surely there is a negative impact on the market and itself. 
Have this thing sorted out and let's find out how much it changes the market price or still at ease. It is still in the process and it (might) change their decision if they listen to the majority of the market players.

[bigcash2011]

I am sure they are doing this to comply with local regulators especially the country from where they are operating to save them from any regulatory trouble. I remember the time how i used to trade at idex but then they took the other side and started de listing a lot of tokens which according to them was not complying with regulators rules, in the longterm they could benefit from this but short term i think they have lost a large number of traders and volume.

[cryptonewbie]

KYC for a decentralised exchange? I think we should check the skies for flying pigs check the lands for walking fish, there is really nothing that is impossible at this stage, this is something that I never considered would ever happen, evidently it's happening already.

[gunhell16]

https://t.co/BOlh4wF1Ju

Another big "DEX" falls down to the regulations, it's safe to say that they shouldn't be called a dex anymore. Same thing happens with Binance "DEX" they are all complying to these things killing the aspect of a DEX exchange.

The reactions from the customers is obviously negative, the exchange betrayed their audience and it will be interesting to see what happens to IDEX now. I won't use it anymore.

SwitchDex took advantage of this situation and published. https://twitter.com/SwitchAg/status/1151580771762786306
Their DEX looks good and they making sure privacy is the primary focus.

What other DEX you think will fall into the KYC hands and what DEX will you use now?

WTH, a DEX requires creating a new account by email, so I don't know at what point "decentralized" it is? So long ago we just need to connect our wallet to DEX. Yes I'll see what will happen with IDEX.
I only use IDEX and sometime forkdelta. Binance DEX doesn't support ERC20 tokens. Other DEXs don't have volume. So what should we do now??

IDEX is being love by the traders due to its free trading identity.
If three will be a KYC on it then i will just go to bigger excahnges.
I thought DEX is the exchange of the future.

[frost_wind]

Crypto market has caved in under regulators   How can kyc be mandatory on a decentralized exchange? How can it remain decentralized in such case? I consider this a defeat for each of us who hoped to gain freedom from the government with the help of cryptocurrency

[bitc0000]

This is really a bad move by Idex because one thing is sure; they will lose their users big time. KYC is a No No to decentralization and IDex have broken their ties with decentralization. What then is the difference between them and other centralized exchanges? Even other centralized exchanges offers more UI than them. Nevertheless, I see this as an avenue for another DEX to take over and might be likely DDEX.

[Iykecollinz]

Why will a decentralized exchange be demanding for KYC, it is weird so to say, The decentralized exchange that I have known only require your private keys, keystore file and mnemonic to be able to trade. I do not see an exchange that requires email and password for singing up as being decentralized

[CoinsOrDie]

I read the announcement yesterday and I was shocked. I have known idex to be a semi-decentralized exchange but I didn't know it will get to these full centralized qualities. The question that begs for answer remains if cryptocurrency is gradually getting forced into centralization

[Msworld83]

every exchage is trying to pleased regulators in other to retain their exchange in the space but the aim of this main space in not been followed anymore which is at very risky and putting people back in to government hand in other to check and balance laundering in the system but when we talk about DEX then i think the client need some privacy .