17 lines
866 B
Markdown
17 lines
866 B
Markdown
# Crypto Exchanges
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A crypto exchange is a corporate entity that acts as an intermediary between people to exchange [currency](currency.md) for [crypto assets](cryptoasset.md)
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Crypto exchanes are not regulated as [market makers](market-maker.md) or [brokers](broker.md), but instead as [money services business](money-services-business.md) which does regulate [order book](order-book.md) making or protect consumers against [market manipulation](market-manipulation.md).
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Many crypto exchanges offer their own [stablecoin](stablecoin.md) whose reserves may be comingled with customer funds.
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See also [market manipulation](market-manipulation.md) and [economic cartel](cartel.md).
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## Jurisdictions
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Crypto exchanges are commonly set up in jurisdictions with loose or corrupt financial regulatory authorities.
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* Seychelles
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* The Bahamas
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* Cayman Islands
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* Singapore |