At present, DEXs are not regulated identically to CEXs in legal terms because they technically don’t match the definition of an exchange. In other words, users don’t store their assets on the platform and use DEXs simply for informational purposes, to get in touch with peers with whom they agree on a P2P transaction. In this way, the micro-systemic risk of DEX users reduces, and DEXs are exempt from regulation by securities laws. The SEC has no control over the crypto market as cryptocurrencies don’t quality as securities. At the same time, the Financial Crimes Enforcement Network (FinCEN) in the USA takes active measures to get the DeFi transactions under tighter control. Overall, there are no uniform regulations that would control DEX operations to date.