Crypto-asset exchanges, which include cryptocurrency exchanges and are also referred to as digital asset trading platforms, are market structures where digital asset buying and selling can occur. Some industry observers perceive digital asset trading platforms as similar to securities exchanges in functionality. However, they are generally not subject to the same regulatory regime, leading to policy debates regarding market integrity, investor protection, and the need to foster financial innovation.
Source: Crypto-Asset Exchanges: Current Practices and Policy Issues
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