Subsequently, our framework requires strictly voluntary, not necessary, DEX registration to embrace the aggressive advantages of fast DEX improvement with out prior restraint. DEXs that need to sign their compliance with the identical requirements as CEXs – for instance, by automated controls – can accomplish that with voluntary registration. However making registration non-obligatory permits for better experimentation in shopper 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 hostile choice, the place low pure obstacles to entry in an open-source software program ecosystem may permit rogue DEXs to achieve first mover benefits whereas compliance-oriented initiatives are stalled by a regulatory approval course of.
