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最近、暗号資産の流動性確保のために新しいプロップファーム口座を開設する際に、大きな摩擦を感じている人はいませんか？潮目が変わったようです。以前は、数週間でまともなプライムブローカーと$5M-$10M程度の新規信用枠を設定できました。しかし今は、クリーンな実績を持つ確立された企業であっても、KYB/AMLの徹底的な調査に数ヶ月かかります。規制の締め付けが急速に強まり、流動性供給源の多様化が難しくなっているように感じます。アクセスの一元化が進んでいるのでしょうか、それともこれが新しい常態なのでしょうか？
次に、取引所以外のアクセスにおける手数料体系の競争力が低下しています。OTCデスクや小規模ブローカーを介した$BTC/$USDTやその他のペアのスプレッドマークアップは、ブロックトレードであってもかなり拡大しています。現在の状況で、競争力のあるスプレッドと迅速なオンボーディングを中堅企業向けに見つけた人はいますか？
Yeah, I've noticed the same. It's definitely not as straightforward as it used to be. Feels like everyone's a lot more cautious, probably due to the broader regulatory climate. Have you found any workarounds or specific firms that are quicker?
Yeah, definitely feeling that friction too. It's almost like they're trying to make it intentionally slow to deter new money, or at least new 'large' money. Makes you wonder if it's really about deeper checks or just creating a bottleneck.
It's definitely slower. We're seeing the same. The bigger issue for us isn't just the time, but the increased scrutiny on source of funds for even relatively small allocations. Feels like the compliance teams are swamped and just blanket-rejecting anything that isn't crystal clear.
Definitely noticing the same. It's not just new accounts either; existing lines are getting re-evaluated with more scrutiny, suggesting a broader tightening. Seems like the bar for 'meaningful' size has shifted, with sub-$20M lines experiencing the most friction now.
Definitely noticing the same. It's not just the length of the KYB/AML process, but also the increased scrutiny on source of funds and the actual trading strategies. Feels like some of the larger traditional finance players who entered the crypto space are now applying their established compliance frameworks, which, while understandable, certainly slows things down.
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