{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,5]],"date-time":"2026-06-05T15:11:52Z","timestamp":1780672312345,"version":"3.54.1"},"reference-count":0,"publisher":"University Library System, University of Pittsburgh","license":[{"start":{"date-parts":[[2026,6,5]],"date-time":"2026-06-05T00:00:00Z","timestamp":1780617600000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ledger"],"abstract":"<jats:p>Decentralized exchanges (DEXs) present challenges for regulation and investor protection; nevertheless, they also present many opportunities for disintermediation and transparency. We explore the past and present state of DEXs, and argue that regulators ought to recognize the both their risks and promises, pursuing oversight strategies that balance flexibility and investor protection.<\/jats:p>","DOI":"10.5195\/ledger.2026.613","type":"journal-article","created":{"date-parts":[[2026,6,5]],"date-time":"2026-06-05T14:37:44Z","timestamp":1780670264000},"page":"1-6","source":"Crossref","is-referenced-by-count":0,"title":["The Evolution of Decentralized Exchanges"],"prefix":"10.5195","volume":"11","author":[{"given":"Campbell","family":"Harvey","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Joel","family":"Hasbrouck","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Fahad","family":"Saleh","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"3176","published-online":{"date-parts":[[2026,6,5]]},"container-title":["Ledger"],"original-title":[],"link":[{"URL":"http:\/\/ledger.pitt.edu\/ojs\/ledger\/article\/download\/613\/337","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/ledger.pitt.edu\/ojs\/ledger\/article\/download\/613\/336","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/ledger.pitt.edu\/ojs\/ledger\/article\/download\/613\/337","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,6,5]],"date-time":"2026-06-05T14:37:44Z","timestamp":1780670264000},"score":1,"resource":{"primary":{"URL":"http:\/\/ledger.pitt.edu\/ojs\/ledger\/article\/view\/613"}},"subtitle":["Promise, Peril, and Policy Changes"],"short-title":[],"issued":{"date-parts":[[2026,6,5]]},"references-count":0,"URL":"https:\/\/doi.org\/10.5195\/ledger.2026.613","relation":{},"ISSN":["2379-5980"],"issn-type":[{"value":"2379-5980","type":"electronic"}],"subject":[],"published":{"date-parts":[[2026,6,5]]}}}