kaal:claim:3782216-022

The code that constitutes a decentralized exchange can create new risks to market integrity, because automation removes the human backstop in compliance, back office and settlement.

The code may also create new risks to market integrity because of its automation and lack of a human backstop in compliance, back office, and settlement.

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021), The basic financial markets
https://ssrn.com/abstract=3782216 · source PDF

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216

• decentralized exchanges

failuresupport: arguedfailure: no human backstopfamily: human-judgment-displacementeconomics

• extended_by kaal:claim:3808852-029 Automation and the absence of a human backstop in compliance, back office, and settlement create new risks to ...
• extended_by kaal:claim:3808852-028 Decentralized exchanges may fail to ensure market integrity, because the code that creates a DEX can allow asy...

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