Agree with the first point, but not the second entirely.
In regard to the first point, I had a good chat with the moderator or the Bitcoin Subreddit after that post, and unfortunately the majority see the difference between a CEX and a DEX as simply being black and white. As per our discussion in the Syndicate group, I also don’t think that referring to Nash Exchange as a DEX is in our best interests right now (at least not until the five nodes of the matching engine are upgraded to be decentralised, which is planned in the future). A “non-custodial exchange” is quite apt, and I think that it should be pressed that Nash never has any control over funds. If someone wishes to discuss that the matching engine is (currently) centralised, it would be good to point out that it is based on verifiable smart contracts and nothing can happen that you haven’t signed for (e.g. x amount of USDT for x amount of BTC).
As per the second point… It should certainly be reiterated that no KYC is required for small trades, but the reality is that regulatory compliance is what the majority of investors want. It infers safety for investors, and in particular for large volume traders and institutions. It is what Nash has been built on and is working towards. Nash will be for institutional traders, businesses, and mom and pop investors. The kids sitting in dark rooms not wanting to type their government name into a computer is not what what will propel Nash forward IMO. Why not promote Nash for what it is and what it will be?
Here is a excerpt from the Nash team regarding compliance:
" One last word: Compliance
Some proponents of decentralized technology act as if it is beyond the reach of the law. This is not true. States clearly have the power to enforce legislation regarding digital assets, whether for taxation purposes, consumer protection or in the interest of their national economies. The US Securities and Exchange Commission (SEC) recently shut down the EtherDelta decentralized exchange and brought charges against its founder, leaving a number of users with funds locked inside the exchange’s smart contracts. Decentralization was no defense against the charge of operating “an unregistered national securities exchange.”
Nonetheless, existing DEXes and many CEXes shirk legal responsibilities. For example, most DEXes have not obtained the BitLicense and Money Transmitter licenses required to operate in the United States. They meet criticism with weak excuses that there are “no legal precedents” for using decentralized platforms to contravene regulations. This is a misleading claim, since the law cares here about the result of an action, not the technology used to achieve it. Indeed, many exchanges begin operating without licenses from questionable jurisdictions, hoping to make a profit before eventually being closed down — hardly a promising business model, and not one to inspire confidence in users or investors.
By contrast, Nash recognizes the legal reality within which digital assets must find a place. We believe that legal compliance is essential to ensuring the growth of distributed finance.
Firstly, we must create an environment in which the legal status of digital assets is known, thus making them amenable to use by businesses. Distributed ledger technology has enormous disruptive potential. It can increase the freedoms that help economies and businesses grow. But it is not realistic to expect businesses to operate under questionable legal conditions.
Secondly, legal compliance is crucial for safeguarding user and investor capital. Users must know that Nash will not shut down owing to legal troubles, locking up their funds.
To achieve these goals, we strive to work with regulators, ensuring that we are fully compliant in all jurisdictions in which we operate. What’s more, we have broken new legal ground by registering the Nash Exchange token (NEX) as the first digital security token in Europe. This protects Nash investors from market manipulation, fraud and insider trading. It also establishes the legal basis for us to offer investors a share of exchange revenue, giving the token sound economic fundamentals.
We believe that every exchange token is, in practice, a security. They hold no value if the exchanges that issued them cease operations. Other projects continue to operate their platforms without following security and anti-money-laundering (AML) laws. This poses a major risk to investors, as these platforms may suffer harsh consequences when laws are eventually enforced.
By registering Nash as a security, we have laid the groundwork for future companies to release their own digital security tokens.
In addition, we are working to obtain the licenses required to trade this exciting new asset class. We also plan to obtain a variety of licenses in the future that will let us expand our operations.
This legal work is absolutely crucial if we wish to bring decentralized finance to everyone. Not only can our customers be sure that their funds are safe when using Nash, but we are helping to grow the legal infrastructure required for digital assets to realize their full potential.
Revolutionary technology must go hand-in-hand with legal innovation. Nash is committed to delivering both."