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> For a global exchange to not risk blowing up means to gain affirmative proof of a user's legal identity, jurisdiction, tax residence Financial stability is t
by cltby 6y ago
> For a global exchange to not risk blowing up means to gain affirmative proof of a user's legal identity, jurisdiction, tax residence
Financial stability is totally orthogonal to KYC. Exchanges that allow leveraged trading protect themselves via margin requirements.
- yowlingcat 6y agoSorry, I regret my word choice there. I did not mean "blowing up" in the colloquial definition (from financial instability), but rather from regulatory infractions.