Sponsored post by Fastex
Learn More about partnering with Decrypt.
$122,862.00
2.37%$4,731.25
2.76%$3.27
-0.40%$841.59
0.69%$200.62
5.04%$0.999715
-0.01%$4,720.40
2.77%$0.243313
2.78%$0.360505
2.24%$0.886508
4.63%$5,711.61
2.74%$23.83
1.16%$46.99
4.01%$122,845.00
2.28%$5,071.54
2.40%$0.451114
-0.04%$3.98
2.23%$5,067.48
2.62%$611.18
-2.09%$0.263874
0.61%$4,732.09
2.73%$1.001
-0.05%$25.38
2.33%$129.68
0.08%$3.50
-0.56%$9.24
1.91%$0.00001386
1.45%$0.99959
0.06%$12.09
4.45%$122,777.00
2.27%$1.00
-0.08%$46.92
2.02%$4.25
1.77%$102.99
122.51%$1.19
0.03%$4.80
7.57%$0.166202
0.19%$0.00001225
0.15%$0.769179
-6.02%$327.00
2.86%$252.59
-1.99%$1.12
6.83%$389.49
-1.45%$2.98
6.06%$24.02
0.89%$5.00
2.08%$1.069
1.70%$5.97
4.35%$0.398702
1.99%$245.28
5.04%$0.562136
17.81%$4,732.95
2.82%$0.098367
0.22%$0.276415
0.51%$1.00
0.00%$0.03725791
-0.21%$0.25151
1.21%$0.02635982
2.25%$4.82
1.34%$5,371.93
2.71%$1.00
0.12%$4.18
2.12%$0.00002721
4.91%$17.64
6.24%$213.98
4.86%$1.10
3.14%$4,957.22
2.65%$0.352114
7.85%$1.063
0.02%$4.58
-0.10%$0.746111
2.50%$9.56
3.90%$5.41
2.36%$2.72
2.82%$5.95
1.79%$4,974.42
2.59%$0.081866
-3.61%$5,116.54
2.66%$0.02368875
3.01%$5,046.48
2.85%$0.550198
2.41%$122,664.00
2.20%$114.81
0.33%$1.72
-5.30%$12.50
3.54%$15.88
6.84%$1.99
6.46%$0.839206
5.90%$1.00
0.00%$0.089252
-0.55%$1.036
4.88%$4,985.07
2.66%$0.00396179
-2.66%$0.772216
1.75%$1.38
1.49%$0.02842256
-4.33%$1.00
0.20%$1.00
0.03%$1.48
-6.42%$0.997014
-0.20%$47.08
4.25%$3,367.46
0.57%$122,543.00
2.25%$0.999984
0.02%$226.40
4.84%$1.37
10.98%$0.621172
4.82%$0.00011871
1.80%$841.67
0.36%$1.087
9.65%$0.999452
-0.02%$4,726.27
2.53%$0.327218
3.35%$0.101098
-0.28%$1.034
3.74%$0.387557
0.59%$0.198467
-1.47%$2.90
0.73%$1.00
-0.11%$122,587.00
2.26%$3.69
11.75%$1.12
0.05%$29.35
-1.04%$124,144.00
2.35%$3,351.55
0.28%$5.59
-0.87%$263.88
4.94%$0.877705
0.44%$0.15652
3.05%$4,555.90
2.00%$0.910651
2.10%$0.0186393
0.82%$0.566186
3.16%$1.37
-1.07%$0.0186562
3.24%$0.214405
0.88%$4,729.44
2.69%$4,713.29
2.24%$5,034.43
2.72%$0.132764
1.84%$0.309565
2.46%$5,028.38
2.62%$2.24
0.42%$122,829.00
2.55%$0.00000072
3.27%$112.17
0.01%$0.418637
-2.02%$1.91
-0.56%$0.213064
3.76%$1.078
0.64%$0.996897
-0.13%$5,208.26
2.58%$0.414052
5.50%$4,731.85
2.87%$1.001
0.10%$0.451727
4.69%$39.34
-1.40%$0.243297
2.46%$5,108.48
2.81%$0.062372
3.98%$0.318122
2.19%$1.49
-0.47%$0.60126
-2.72%$0.00648657
-0.16%$122,796.00
2.34%$0.00817929
-0.00%$29.54
0.18%$0.997577
-0.00%$0.737271
8.94%$0.148453
6.33%$0.00955195
-1.17%$0.00000145
3.11%$120,875.00
3.31%$8.49
7.80%$4,686.90
3.00%$1.30
4.16%$4,727.04
2.72%$2.90
-3.45%$0.44441
8.44%$1.49
1.67%$0.652794
1.56%$0.465026
-3.11%$0.515531
1.55%$0.07245
0.17%$7.75
1.28%$0.82929
4.40%$1.001
0.07%$0.070548
16.11%$1.59
13.02%$53.60
0.47%$0.00000118
-5.18%$0.999635
0.26%$0.01386584
-1.68%$6.77
1.98%$5,721.09
2.61%$16.60
2.68%$0.00000047
-0.64%$0.02411051
5.18%$15.30
0.89%$1.16
0.01%$0.00002222
0.47%$0.176087
2.80%$2.63
3.21%$1.00
0.14%$0.008458
0.39%$0.04413601
1.60%$7.47
-1.76%$0.089995
1.34%$0.999803
0.01%$0.388437
-0.65%$0.00480682
-5.13%$220.66
5.07%$0.594826
1.53%$1.095
-0.04%$0.999715
-0.01%$1.002
-0.11%$0.0000033
16.54%$5.19
0.13%$4,956.04
2.52%$122,913.00
2.32%$30.91
2.66%$10.78
0.01%$46.80
3.99%$0.03441913
-0.47%$25.34
2.21%$0.276989
0.94%$0.145517
1.23%$4.64
1.15%$144.01
2.35%$0.117751
-4.83%$0.368911
1.33%$4,721.24
2.55%$22.81
-0.13%$0.564644
2.99%$5,315.85
2.68%$0.00497127
3.85%$0.593139
2.87%$1.33
2.18%$122,845.00
2.11%$0.803305
-2.47%$0.251019
0.98%$0.00353572
-1.77%$122,679.00
2.35%$0.999899
0.05%$0.748069
0.85%$0.00006238
-0.09%$0.00496613
0.31%$227.50
4.89%Reading
Crypto exchange Fastex is “shaping the future” of crypto compliance with its Web3 ecosystem, its Chief Legal Officer Vardan Khachatryan said in a recent interview.
Speaking to Rug Radio, Decrypt’s sister media outlet, at the DACOM Summit, Khachatryan highlighted Fastex’s ecosystem of current and upcoming products, including its centralized crypto exchange and NFT marketplace, layer-1 blockchain Bahamut Chain, and a forthcoming “crypto identity product.”
Fastex Chief Legal Officer Vardan Khachatryan joined Rug Radio creator Mlow at DACOM Summit to discuss how the crypto exchange is advancing compliance, and the regulatory challenges that lie ahead for the sector.
“Those kind of products are shaping the future of cryptocurrencies,” Khachatryan told Rug Radio creator Mlow. “Not just for the technology, but also for compliance and regulation.”
He pointed to “new requirements” emerging in the regulatory landscape such as travel rules. “These products can be not only just one step ahead in the crypto space and blockchain, but also resolve some of the challenges that companies face to be compliant for these requirements,” he said.
Those challenges include regulatory uncertainty, “particularly in the U.S., in terms of lack of regulation,” he said. With multiple regulatory bodies, including the SEC, IRS and CFTC, all taking their own approach to crypto, and “defining it from their perspective,” Khachatryan added, “this creates a lot of challenges for the players.”
“Most of the players want to be compliant, but they need to understand how to be,” he said, adding that, “A lot of the business decisions that are made are driven from the compliance standpoint.”
“You want to know where you are stepping into a market, and what laws exist, and how to be compliant,” he said. In the future, he hoped for more certainty among significant jurisdictions, enabling crypto firms to focus on “improving and getting into more markets and getting into new products,” rather than expending their efforts on “understanding whether if I do this move, will that be crossing a line?”
Another challenge for crypto firms is regulators’ lack of understanding of Web3 technology. “Not everybody really understands truly how the technology works,” he said, “especially when you go to the decentralized part of the technology—particularly for DeFi protocols, or layer-1s and on-chain transactions.” Although some crypto and DeFi activities are similar to those of traditional finance, he said, “This is a new technology— it needs a new approach, more tailor-made.”
Crypto exchange Fastex has followed an approach that combines innovation with compliance, its CEO Vakhtang Abrahamyan told Decrypt’s sister media outlet Rug Radio during a wide-ranging conversation at Singapore’s Token2049 conference. Speaking to Rug Radio influencer Pukerainbow at Token2049, Abrahamyan explained that Fastex embraces a “customer needs-driven” mentality. “When you have proper people in place with professional knowledge—and we gained a lot of experience during these years—I think...
Fastex, he said, has done “a huge amount of work” in order to meet the highest standards of compliance, including “adopting new systems for on-chain transactions, for KYC, for market surveillance.”
Europe’s Markets in Crypto Assets (MiCA) regulation is a “huge step ahead” for the space, he said. He added that Fastex is “working very hard at the moment with the regulators in Europe” in order to obtain a license ahead of MiCA coming into force next year, which would enable “passporting between the European Union and European Economic Area.”
Looking to the future, he said, “The plans are to get as many licenses as possible, to be working in more regulated jurisdictions.” As yet, Fastex does not operate in the U.S., but is in the process of applying for licenses, he said. “hopefully, by the time we are ready to serve US users, there will be more certain regulations,” he said. “Hopefully that's going to be next year.” He added that, “for the U.S., we don’t want to wait anymore!”
Sponsored post by Fastex
Learn More about partnering with Decrypt.
The American Bankers Association, the Bank Policy Institute, and over 50 state banking groups are demanding that Congress close "several loopholes" in the recently enacted GENIUS Act, warning that the nation's first major stablecoin legislation contains gaps that could trigger a massive deposit flight and undermine the traditional banking system. In a letter addressed to Senate Banking Committee leaders on Tuesday, the coalition warned that even while the GENIUS Act prohibits stablecoin issuers...
Bitmine Immersion is upping its fundraise target for buying more ETH by $20 billion, according to the firm's filing with federal regulators on Tuesday, as it jockeys to maintain its standing as the world's largest Ethereum treasury. The cryptocurrency mining company aims to raise a total of $24.5 billion of its common stock. The announcement marks a dramatic expansion of its common stock sale, for which the company had already made $4.5 billion worth of its shares available to investors. Under t...
Bitcoin Depot reported a second-quarter profit of $12.3 million on Tuesday, attributing the 183% increase compared to a year ago partly to an increase in the value of its Bitcoin holdings. The Atlanta-based firm, which operates over 8,800 crypto kiosks across North America, said the value of its Bitcoin holdings increased $2.3 million in the second quarter. As of June 30, the company held 100 BTC worth $11.5 million, a 666% increase compared to a year ago. Revenue rose 6% year-over-year to $172...