I can't speak for them, but I suspect it's a bit on the nose. The reality is, Bitcoin literally created the need for exchanges and the regulatory due diligence landscape has changed so extremely in the past few years that every month that goes by may or may not change things substantially in our favour. I suspect that as long as they pay their pound of flesh to the Gov, there's no need to go back the decade and a half and fill in "Satoshi" on the "legal entity" line. That's a guess though. As saying above to @guruvaj, right now Coins.PH and I are banging our heads together on how to help them enter into a contract with a trustless DAO for culpability reasons. As such, on most of our listings and almost every single CEX NDA, I am personally fully doxxed. I very, very, very much do not like that at all, but there is no one else who will and as such, it's something that I do my best to go over with my personal lawyer to protect myself as best I can and keep us moving forward on these things.

DEX options really are the future we need to pursue- lol.