I'm already planning the orderly closure of my account on the last CEX without KYC that I've been working with for the past few years.
First of all, I've made sure that, although it's a Malaysian exchange and until now didn't have to comply with DAC8 regulations, it has been legally obligated to do so since January 1, 2026. This means it has a legal obligation to report to the European Union on the crypto funds of its European clients, so it's definitely going to ask me for KYC and I'll be referred directly to the tax authorities in my country... something I'd rather avoid and do myself (if I feel like it)...
The net is closing in, the crackdown on CEXs is total, there's no alternative but to operate on DEXs, also for crypto futures trading, which is what I've been using the exchange/broker for lately.
I'm experimenting with dYdX again, a decentralized exchange that operates entirely on its own blockchain.
All transactions are recorded there, ensuring a certain level of privacy (you don't need any registration or KYC, just MetaMask to start trading).
For now, I'm testing with minimal capital, placing LONG/SHORT orders to see how it works and going through the entire withdrawal process from the DEX to my wallet...
Everything's going well so far, ridiculously low fees, and there are many advantages if you stake their native token... I'm even thinking of buying it now that, like so many others, it's at all-time lows...but there is no obligation of having dYdX tokens to operate this DEX.
It won't let me place LONG and SHORT trades on the same market simultaneously, even in "Cross-margin" mode, which is a problem if you're "HEDGED" trading, as I am... I need to find a way around this.
We'll see, I'll keep you posted here... I'm leaving my referral link here in case you want to get discounts on fees, and you'll be helping me out too 😜.
If you know of any other futures DEXs, please leave your referral links here; I'd be happy to try them out too.
@toofasteddie