First Criminal Case Involving Attack on a Smart Contract Operated by DeX

[joniboini]

I shake my head if you of all the people in the forum support the whitelisting and the imposing of KYC on self custodied wallets.

I think he meant to say that regulators don't need to introduce any new rules since they can just force DEX or any other platform to implement KYC or whitelisting. If they are popular and the owner is known, for example, I guess some threats could work and potentially force them to do what the government wanted. I believe DEX and self-custody wallet is not the same in this regard, I doubt they can force people to KYC to use Electrum for example. CMIIW.

[zasad@]

I think we need a set of new rules for the crypto industry.

If not I think there will be more and more lawsuits in the coming future and not gonna end in Binance.US or Coinbase. maybe cases like XRP will showed up again.
On the other hand, DeX is highly unregulated so yeah it offers us more privacy and control but in some cases US dont like it at all

DeX is more transparent in terms of transaction control, and there is no need to come up with new legislation for these exchanges. Only whitelists and KYC for each wallet are enough.
DeX provides no privacy when used across many ecosystems, and most trading takes place within the Ethereum ecosystem and its L2 layers.

I shake my head if you of all the people in the forum support the whitelisting and the imposing of KYC on self custodied wallets. What are we supporting decentrlzation for if we accept this? This is where I begin to appreciate the bitcoin maximalists' argument on anonymity and the fight against censorship. We should be very cautious on this issue, I reckon. We might be tricked into accepting something that might make the cryptospace function like a duplicate of traditional finance.

Where did I say that I am a supporter of KYC? I have not traded on centralized exchanges for a long time for this reason.
Decentralized services will not ask their users about this and they will still implement one of the KYC options in order to comply with the law.