The crypto world was rocked in November 2022 by an unforeseen event involving the FTX exchange. This incident brought the vulnerabilities of centralized exchanges (CEX) under the spotlight, catalyzing debates about the future of crypto trading. With growing concerns surrounding centralized platforms, the cryptocurrency community is gravitating towards decentralized exchanges (DEX).
As digital currency exchanges progress, various countries have begun to acknowledge digital currencies while imposing stringent regulations. They mandate CEXs to possess compliance licenses to operate. The rigorous requirements and limited availability of these licenses deter many exchanges. As the cryptocurrency landscape evolves, the debate between centralized exchanges (CEX) and decentralized exchanges (DEX) is intensifying.