Compliance with DeFi Regulations
Bitiness is built on the core principles of decentralization, transparency, and user sovereignty. As a decentralized exchange (sDEX) operating on the BNB Smart Chain, we are committed to respecting evolving global DeFi regulations while maintaining the privacy-first and permissionless nature of Web3.
⚖️ 1. Decentralized Architecture = Regulatory Distinction
Bitiness is a non-custodial, smart contract-based protocol. This means:
No custody or control over user assets
No intermediaries or centralized matching engines
No direct involvement in user-to-user transactions
As a tool provider, Bitiness does not function as a traditional financial intermediary, broker, or exchange under most regulatory definitions.
📋 2. User Responsibility
While Bitiness does not collect personal information or enforce KYC (Know Your Customer), users are responsible for complying with local laws, which may include:
Declaring crypto holdings to tax authorities
Complying with sanctions, AML, or financial reporting rules in their jurisdiction
Ensuring legal eligibility to use decentralized platforms
Bitiness is not liable for user behavior that violates local regulations.
🔍 3. Legal Compliance Framework (In Progress)
Bitiness is actively exploring responsible compliance measures that respect both:
User privacy & decentralization
Global financial regulations
Planned frameworks may include:
Community governance-based controls for token listings
DAO-managed transparency measures (e.g., treasury reporting)
Optional on-chain compliance tools like wallet screening via decentralized oracles
📜 4. Risk Mitigation Measures
While Bitiness is a protocol, we implement:
Token listing filters to reduce scam exposure
Transparent contract source code (verifiable on BscScan)
A GitBook-based Risk Disclosure to inform users proactively
We also encourage users to revoke token approvals, understand smart contract risks, and use Web3 wallets securely.
🌐 5. Global DeFi Awareness
Bitiness monitors evolving regulatory developments in jurisdictions such as:
United States (SEC, CFTC guidance)
European Union (MiCA framework)
Asia-Pacific and Middle East regions
We believe DeFi should work with innovation and legal clarity, not against it.
✅ Summary
Non-custodial
Bitiness never holds or controls user funds
Privacy-first
No KYC or user data collected
Legal awareness
Users must comply with their local regulations
Protocol transparency
Open-source smart contracts and audit plans
Community alignment
Governance, DAO voting, and roadmap openness
Last updated