You're being disingenuous if you're trying to compare the mature foreign exchange market with a technology that's barely half a decade old and still obscure by most standards. Curve.fi, the example I shared, was launched in Jan 2020 and peaked at a daily volume of $1B.
Personally, I can't buy USD without going to the bank and filling out paperwork, submitting ID documents and clarifying why I need the USD and adhering to prescribed limits.
I have no such restrictions with their tokenized variants.
But you said it was happening right now... no you say it isn't happening, okay.
> I have no such restrictions with their tokenized variants.
Regulations don't apply because you're trading fantasy money. Once you try to exchange these virtual tokens for real money, then you will be required to comply with the regulations.
For example, you mention foreign currency exchanges. According to Wikipedia, trading in foreign exchange markets averaged $6.6 trillion per day (April 2019). [1] Is there any indication that foreign exchange markets are moving towards adopting this trading of tokenized currencies that apparently is so much better than the system they're using now?
[1] https://en.wikipedia.org/wiki/Foreign_exchange_market