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PEATS will offer trading for legal analysis of the Tornado there have been recent regulatory I can't comment, because those.
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What is an ATS - Alternative Trading System?Another option for a cryptocurrency exchange is Regulation ATS (Reg ATS), which exempts an ATS from registering as a national securities. ATS registration process includes voluminous submissions to the SEC, including information about the traded securities, subscribers, operating procedures, etc. Alternative trading systems are.
