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Partner Ashley Ebersole was quoted May 24 by The Wall Street Journal on the growing popularity of decentralized cryptocurrency exchanges (DEXes), which function as peer-to-peer networks for swapping digital tokens. Unlike conventional crypto exchanges, DEXes don’t feature a central authority that decides who can trade or what tokens can be traded, and DEXes generally don’t have safeguards against money laundering or “know your customer” measures. That could raise red flags for government authorities, especially as DEXes gain popularity, said Ebersole, a former Securities and Exchange Commission attorney. “If a lot of money is moving across your platform, regulators could have serious problems if you’re not asking even basic questions to know who’s involved in those transactions and where they’re located,” he said.

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