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Decentralized Exchange dYdX Relocates to Avoid US Regulators

By CryptosHeadlines.com
5 months ago
ETHDYDX DYDX
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Decentralized Exchange dYdX Relocates to Avoid US Regulators

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Decentralized exchange dYdX shifts to the Cayman Islands amid US regulatory pressures, aiming to safeguard operations and innovation in DeFi.

The decentralized exchange dYdX has announced its plans to restructure operations by setting up a legal entity in the Cayman Islands.

This legislation coincides with the rising regulatory scrutiny by U.S. authorities towards DeFi protocols.

Community-Backed Restructuring Plan

The move to transfer some of the dYdX operations to the Cayman Islands was approved through a community referendum where more than 90% of the participants voted in favor.

This reorganization involves the transformation of dYdX Operation Trust (DOT) into a new organization, the dYdX Foundation, domiciled in the Cayman Islands.

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#Bitcoin #Ethereum #Crypto #DYDX $DYDX

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