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The gap between insider trading enforcement and actual market practice remains striking. While regulations officially prohibit it, enforcement appears selective at best. Market participants openly discuss transactions that would raise eyebrows in a truly regulated environment. The disconnect between the rulebook and reality creates an uneven playing field—something the crypto community watches closely when evaluating centralized versus decentralized trading mechanisms. This kind of regulatory inconsistency is precisely why transparency and on-chain verification matter so much in Web3 markets.