First, it's important to note that we will continue to KYC users when they trade directly with us as the counterparty (this is our old model and we have to KYC

First, it's important to note that we will continue to KYC users when they trade directly with us as the counterparty (this is our old model and we have to KYC in this case). When it comes to DEX trading, it means we are not part of the trade; we are not a custodian, a counterparty, or an intermediary of any kind. Thus, we are not regulated in that case because we are not engaged in a regulated activity and are in full compliance with regulatory guidelines.