I was thinking through a specific tension recently — pre-trade transparency requirements under MiFID II require regulated trading venues to publish order information before execution. I kept wondering how that sits alongside Dusk's privacy-preserving design at the settlement layer.
What seems interesting is how pre-trade transparency and settlement privacy occupy different regulatory spaces entirely. Dusk's selective disclosure covers compliance after a transaction completes. I'm not completely sure that same logic extends to order flow before execution, where the obligation actually runs in the opposite direction.
The question that comes to mind is whether pre-trade publication rules and Dusk's settlement privacy quietly pull against each other. Looking from the outside, 21X and NPEX likely resolve this at their own application layer — but I sometimes wonder whether that separation holds cleanly in every real-world scenario.
It makes me think the harder interface isn't between Dusk and regulators — it's between Dusk's settlement layer and the transparency obligations that trading venues must independently satisfy above it. Whether those two always stay cleanly separated in practice remains genuinely uncertain — anyway, time will tell👍#dusk $DUSK @Dusk
What seems interesting is how pre-trade transparency and settlement privacy occupy different regulatory spaces entirely. Dusk's selective disclosure covers compliance after a transaction completes. I'm not completely sure that same logic extends to order flow before execution, where the obligation actually runs in the opposite direction.
The question that comes to mind is whether pre-trade publication rules and Dusk's settlement privacy quietly pull against each other. Looking from the outside, 21X and NPEX likely resolve this at their own application layer — but I sometimes wonder whether that separation holds cleanly in every real-world scenario.
It makes me think the harder interface isn't between Dusk and regulators — it's between Dusk's settlement layer and the transparency obligations that trading venues must independently satisfy above it. Whether those two always stay cleanly separated in practice remains genuinely uncertain — anyway, time will tell👍#dusk $DUSK @Dusk
