Upstart Peer-to-Peer Crypto Exchanges Take Aim at Coinbase

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Coinbase, which has made billions running cryptocurrency markets, is facing competition from a new breed of upstarts that look less like the New York Stock Exchange and more like Napster

There is no central authority on a decentralized exchange to decide who is allowed to trade, or what tokens can be traded. Uniswap can be used to trade more than 30,000 unique tokens.

“If a lot of money is moving across your platform, regulators could have serious problems if you’re not asking even basic questions to know who’s involved in those transactions and where they’re located,” said Mr. Ebersole, who is now a partner at Bryan Cave Leighton Paisner LLP. Another analytics firm, Chainalysis, has linked the KuCoin theft to a criminal syndicate working on behalf of the North Korean government.What do you think the future holds for decentralized crypto exchanges? Join the conversation below.

Moreover, because there isn’t a central set of servers that runs Uniswap, it can’t be shut down. It is also unclear how the government could require any entity to act as a gatekeeper and identity people using the protocol. Mr. Adams leads Uniswap Labs, a firm that has developed much of Uniswap, but his team has handed governance of the protocol to a broad community of users that can vote on policy changes.

Source: Digital Coin News (digitalcoinnews.net)

 

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