Recently, decentralized digital asset exchanges (DDAE) have received significant attention. This study proposes five criteria to evaluate DDAE based on the principles of financial market infrastructure (PFMI). The current DDAEs technologies are discussed and evaluated from two aspects of inter-blockchain communication (IBC) and exchange protocol technology, the implementation principles of several typical technical solutions are elaborated, and various technologies are summarized into different models for analysis. Then, the regulatory issues of current DDAEs are discussed, and a distributed supervision modelis proposed for the problems of incomplete supervision data and data tampering. This model consists of three parts: Blockchain system, supervision execution engine, and supervision regulation database, which can automatically executethe supervision rules in the supervision regulation database by reading the transaction data in the blockchain and automatically generate the supervision report for the transactions meeting the supervision rules. Finally, the development of DDAEs is summarized and anticipated.