Identity is the antidote for DEXs’ regulation problem -Breaking
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Identity is the antidote for DEXs’ regulation problemRegulators from Europe, the United States and elsewhere are busily hammering out details on how to designate decentralized exchanges (DEXs) as “brokers,” transaction agents or similar entities that affect a transfer and cooperate with each other. In the United States, multinational cooperation is required its executive orderthe European Union’s recent Financial Stability and Integration Review. And that is just what’s publicly accessible.
The whispers of regulation are becoming louder behind the scenes. Have you noticed that Know Your Customer (KYC-) regulations have been applied to smaller, centralized exchanges in foreign locations during the last two month? It was the keystone of the coal mine. DEXs with the cooperation mentioned above will soon feel regulator heat.
Bob ReidEverest is currently the CEO and cofounder. Everest leverages blockchain technologies to create a multi-currency, secure, inclusive, digital/biometric identity and payment platform. Everest, a licensed and registered financial institution provides financial solutions that facilitate eKYC/AML digital identity and compliance with regulations related to money movements. Kai Labs’ general manager for licensing at BitTorrent and Vice President of Strategy and Business Development at Neulion, DivX, was his advisor.
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