Due to this fact, our framework requires strictly voluntary, not necessary, DEX registration to embrace the aggressive advantages of fast DEX improvement with out prior restraint. DEXs that wish to sign their compliance with the identical requirements as CEXs – for instance, via automated controls – can accomplish that with voluntary registration. However making registration non-compulsory permits for larger experimentation in client protections, as DEXs needn’t search pre-approval from inherently risk-averse regulators earlier than launching novel technical safeguards. As well as, voluntary registration avoids creating adversarial choice, the place low pure boundaries to entry in an open-source software program ecosystem might enable rogue DEXs to realize first mover benefits whereas compliance-oriented tasks are stalled by a regulatory approval course of.
