RE: Steem-Engine Breakthrough: BTC/LTC/BCH/DOGE trading now live!

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Steem-Engine Breakthrough: BTC/LTC/BCH/DOGE trading now live!

in steem-engine •  6 years ago 

The last part is certainly true, see Crypto-Bridge's announcement of KYC requirements for USA and Canadian citizens that they put out a month or so ago: https://crypto-bridge.org/2019/02/26/urgent-announcement-terms-of-service-identity-verification-requirements/

They told users on twitter they had to or the entire exchange would be shut down and funds likely would be seized by US officials

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The best solution is one that would also require the exchange creators to make 0 profits. You create a wallet that has multiple wallets integrated into the same wallet, and allow for transaction fees to be the exchange fees, and thats all it would take to make a true dex, one that users hold their private keys - but, it would give no profits to the creators and thus has been no incentive to create it.

Also, DEX maintainers are still responsible and liable, as can be seen from ETH's DEX owner who was arrested recently