According to CoinDesk, cryptocurrency industry officials attending Consensus Miami 2026 diagnosed that institutional investors' participation in the decentralized perpetual futures exchange (Perp DEX) market is still limited. The main reasons cited were DeFi security risks and conflicts with KYC (Know Your Customer) systems. In this regard, Michael Anderson, co-founder of crypto venture capital firm Framework Ventures, stated, "The current DeFi ecosystem is like a minefield, and PerpDEXs are in an environment where they are difficult for institutions to utilize compared to centralized exchanges (CEXs). This is because DeFi aims for anonymity and a non-KYC structure, but institutions must meet strict regulatory KYC and compliance requirements."
